COLUMBUS (AP) – The $47 million sale of the publishing operations of The Columbus Dispatch to the New York-based New Media Investment Group has been completed.
New Media on Monday announced the completion of the sale of the newspaper, which has been owned by the Wolfe family for more than a century. The sale affects about 1,100 employees.
The newspaper’s publisher, John F. Wolfe, has said the sale offers the best chance for the publication’s future.
The deal between Dispatch Printing Co. and the New Media Investment Group includes the Dispatch, which has a circulation of more than 130,000 daily and 235,000 on Sundays; ThisWeek Newspapers, a group of 24 suburban weeklies; and seven magazines, including Columbus Monthly.
The Dispatch Printing Co. will retain nonprint assets, including broadcast operations and other enterprises.