The long history of family ownership of The Columbus Dispatch has officially come to an end. New Media investment Group has completed its purchase of The Dispatch from the Wolfe family.
The sale price: $47 million.
The end of local ownership came quickly. New Media completed the sale less than two weeks after it announced it planned to buy the newspaper and other Dispatch print publications.
The Dispatch has daily circulation of 130,000 and a Sunday circulation of 235,000.
"We are very excited about the acquisition of The Columbus Dispatchand the upside potential that exists for our shareholders,” said Michael E. Reed, New Media’s President and CEO. “To date we have completed nearly $590 million in acquisitions, and have ample liquidity to continue to execute on strategic transactions."
