Tuesday, April 28, 2009

Investors Bet on Small-Market Papers

While big newspapers across the country fight for survival, the slice of the industry that serves small markets is drawing new investment from industry veterans.

Longtime newspaper executive Michael Schroeder in January bought two Connecticut dailies on the verge of closure. Pennsylvania publisher Richard Connor says he is close to acquiring a group of Maine papers, including the state's largest daily.

Last month, according to a person familiar with the matter, Tennessee Valley Printing Co., a family-owned publisher of smaller papers, agreed to buy a paper in Florence, Ala., for about $12 million.

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