the purchase of the Richmond County Daily Journal in Rockingham,
N.C., The Cheraw Chronicle in Cheraw, S.C., and The Anson Record in
Wadesboro, N.C., from Community Newspapers Inc. of Athens, Ga.
Terms of the transaction were not disclosed.
Michael Bush, Heartland's president, said, "We are very excited to
have these fine newspapers join our expanding family of community
newspapers. Community Newspapers has been a great steward of these
newspapers. They have built a great tradition of quality journalism
and leadership in their communities. We will build upon their
accomplishments and continue to move these newspapers ahead."
Bush said Heartland plans on growing the company through a program of
"Rockingham is in an area of the country we know well and in which
we have already established ourselves with several newspapers," he
CNI Chairman Tom Wood said, "These three newspapers have
demonstrated their commitment to the communities they serve and
earned the respect of the readers who depend on them for daily
information about the community. I am sure they will continue with
that tradition under the fine leadership of Heartland Publications."
Heartland Publications, LLC, based in Old Saybrook, Conn., owns and
operates 26 paid daily and weekly newspapers in North Carolina,
Kentucky, Oklahoma, Tennessee, Ohio and West Virginia. The company's
owners are The Wicks Group of Companies and Wachovia Capital Partners.
The Wicks Group of Companies is a New York-based private equity firm
focused on selected segments of the communications, information and
media industries. Wachovia Capital Partners, based in Charlotte,
N.C., is the principal investing arm of Wachovia Corp.
Dirks, Van Essen & Murray of Santa Fe, N.M., was the broker for the