Adams MultiMedia acquiring Cedar Rapids Gazette and 11 community titles

A Minnesota-based company is entering into an agreement to purchase The Gazette and 11 community newspapers, the companies announced jointly this morning.

The agreement between Tom Pientok, president & CEO of Folience, Inc. and Mark Adams, President and CEO of Adams MultiMedia (AMM) is expected to be finalized by Dec. 1, at which time most Gazette employees will join Adams MultiMedia. Employees of The Gazette were told of the transaction this morning.

The transaction maintains independence and ownership by a family-held company, a structure The Gazette has had through much of its 143-year history. The Gazette, which was founded in 1883, publishes a daily digital edition and three days a week in print and has been operating as part of the employee-owned group, Folience, Inc.

“Media companies across the country are facing unprecedented challenges, and local journalism is no exception. We’ve been incredibly fortunate to have some of the most dedicated, talented, and award-winning journalists delivering exceptional coverage to our community for more than 140 years. In today’s environment, sustaining a 100% independent newspaper has become increasingly difficult,” Pientok said in a statement.

“From day one, our goal has been to preserve local journalism. Mark and his family have a long history and passion for local media. By aligning The Gazette with Adams MultiMedia, we’ve provided the opportunity for our community’s voice to continue to be heard and for local journalism to remain strong for years to come.”

Also included in the direct sale are 11 community newspaper titles as well as three community shopper publications based in Washington, Henry, Jefferson, Iowa and Poweshiek counties.

Adams Publishing, founded in 2014, owns more than 120 newspapers and more than 220 media-related and associated digital products in 19 states across the country.

“We’ve considered dozens of news organizations in recent years, and I can say with utmost confidence that very few have come with the credibility and promise that we have here today.,” Mark Adams said in a prepared statement to Gazette staff today. “The Gazette and its commitment to serving the local community — strong journalism and unmatched local business relationships — was a no-brainer for us.”

The purchase are AMM’s first titles in Iowa. Adams owns titles in 19 other states, including Alabama, Delaware, Florida, Georgia, Idaho, Kentucky, Maryland, Minnesota, Montana, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Utah, Virginia, Washington, Wisconsin, and Wyoming.

AMM will enhance the digital content for subscribers and offer expanded digital marketing and advertising solutions for local businesses. By deploying shared services, AMM will free up local resources to focus on serving the local communities.

Additional community newspapers included in the purchase are the Southeast Iowa Union, Hometown Current, Washington Evening Journal, Mount Pleasant News, Fairfield Ledger, Marengo Pioneer Republican, Williamsburg Journal Tribune, Poweshiek County Chronicle Republican, Winfield Beacon- Wayland News, New London Journal, Pekin Clarion Plainsman. The acquisition also includes total market coverage shoppers including The Pennysaver, Hometown Marketplace and Southeast Iowa Shopper.