The Connecticut Post has been sold to Hearst. What does this mean? The anxiety that consumed the newsroom following the hiring of a new editor last month is even higher. Hearst, according to an account on the Post website, also assumed management of daily papers in Stamford, Greenwich and Danbury. In time you’ll probably see cutbacks, layoffs and one paper with four different front pages. And don’t be shocked if all papers are combined into one regional Fairfield County paper. AP is reporting that Hearst purchased the Post and seven weekly newspapers for $155 million. See Post account below:
Hearst Corp. has purchased the Connecticut Post and seven weekly newspapers from MediaNews Group Inc., according to an announcement by the two companies today.
“The Connecticut Post has a long and rich history, and Hearst is committed to continuing that tradition,” said George B. Irish, president of Hearst Newspapers, in a statement.
Hearst also has assumed management of three additional daily newspapers in Fairfield County, Ct. – The Advocate, of Stamford, Greenwich Time and The News-Times of Danbury.
The combined circulation of the newspapers is 137,000 daily, 151,000 Sunday and 53,000 weekly.
The weeklies that Hearst acquired are the Darien News-Review, Greenwich Citizen, Fairfield Citizen-News, New Canaan News-Review, New Milford Spectrum, Norwalk Citizen-News and Westport News.
“This transaction allows MediaNews to manage its balance sheet during a challenging economic environment and transfer ownership of the Connecticut Post to a company we admire,” said Joseph Lodovic, president of MediaNews, in a statement.