Press release | Cribb, Cope & Potts
CherryRoad Media Inc. today announced that it has purchased nine newspapers from Rust Communications, Inc. The newspapers are published in Arkansas and Missouri.
Randy Cope of Cribb, Cope & Potts, the oldest newspaper and publication brokerage in the United States, represented Rust Communications in the transaction. Terms of the sale were not disclosed.
This is the latest acquisition from CherryRoad Media, which entered the newspaper industry in late 2020 with the purchase of the weekly Cook County (Minnesota) News-Herald. It has since acquired 52 other titles, including four in Arkansas and four in Missouri, as well as two start-up newspapers in Minnesota.
CherryRoad Media is a wholly owned subsidiary of CherryRoad Technologies, a technology company based in Parsippany, New Jersey, which has been in business since 1983. CherryRoad provides complex technical solutions and systems integration services to large enterprise customers, especially to state and local government entities. CEO Jeremy Gulban said the company decided in 2020 to look to the local newspaper industry because it felt there was a need for technology infusion from a favorable side, as opposed to to a competitive side.
“We are very excited to be working with a great group of people to serve these communities in Arkansas and Missouri in the future,” said Jeremy Gulban, CEO of CherryRoad Media and CherryRoad Technologies. “We plan to continue to focus on local news and offer additional digital solutions to complement print newspapers. I want to thank the Rust family for working with us to find a good place for these important community posts.
Rust Communications, based in Cape Girardeau, Missouri, is a second-generation media company with 33 newspapers and a minority stake in 17 radio stations in nine states.
“Jeremy and CherryRoad’s commitment to employees, technology innovation and small markets is impressive,” said Jon K. Rust, president of Rust Communications. “We are thrilled to connect them and their passion for news to a large group of employees and cities.”
The transaction closed today — March 1 — and the newspapers acquired include the following titles:
- Marshall Democrat-News in Marshall, Missouri
- Monett Times in Monett, Missouri
- Cassville Democrat in Cassville, Missouri
- Southern Missouri News in Thayer, Missouri
- Carroll County News in Berryville, Arkansas
- Beautiful citizen of Eureka Springs County, Arkansas
- The News in Salem, Arkansas
- Villager’s Diary in Cherokee Village, Arkansas
- Clay County Times Democrat in Piggott, Arkansas