Cedar Rapids Gazette to be sold to Adams MultiMedia

CEDAR RAPIDS, Iowa (KCRG) - The Cedar Rapids Gazette and 11 community newspaper titles will be purchased by Adams Multimedia.

Adams Multimedia CEO Mark Adams announced Tuesday morning that the deal is set to be finalized by December 1.

Minnesota-based publishing company Adams Multimedia was founded in 2014 and owns more than 120 newspapers in 19 states.

The Gazette, founded in 1883, publishes a daily digital edition and prints three days a week.

The Gazette is currently owned by employee-owned group Folience.

Folience CEO Tom Pientok says the deal maintains the newspaper’s independence and ownership by a family-held company.

“Media companies across the country are facing unprecedented challenges, and local journalism is no exception,” Pientok said. “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.

“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.”

AMM says it will enhance digital content for subscribers and free up local resources to focus on serving the local communities.

The acquisition also includes the following newspapers and community shopper publications:

• 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 Pennysaver
• Hometown Marketplace
• Southeast Iowa Shopper