Carpenter Media Group (CMG) and News Media Corporation (NMC) announced today plans for CMG to manage NMC with an option to acquire, according to John Cribb, Cribb, Cope & Potts who assisted NMC and the Tompkins family in structuring the agreement. Longtime NMC leaders J.J. Tompkins and Billy McMacken will assume leadership roles with CMG, and the transition will begin immediately.
News Media Corporation was founded in 1975 by John C. Tompkins. John began his career as a paperboy at The Hammond Times, where his father was the publisher. Eager to learn, he continued to work his way through every department at The Times with Howard Publications. At the age of 21, Tompkins purchased his first newspaper, The Rochelle News-Leader, in rural Illinois.
Under John Tompkins' leadership, News Media grew to over 70 publications across 10 states. NMC serves select communities of 5,000-50,000 population in isolated rural trade centers, focusing mainly on weekly newspapers. It has always been News Media’s top priority to provide quality local journalism to the unique communities it serves. NMC currently has 25 publications located in Illinois, South Dakota, Wyoming, Nebraska and Arizona.
“We have worked with JJ and his father, John, over the years, and we have a long friendship and deep respect for the company they built and its exceptional team of community media professionals,” said CMG Chairman Todd Carpenter. “We look forward to working to build on the foundations put down by John and others as we develop the products, people and communities served.”
“This is a unique opportunity to partner with Todd Carpenter and CMG,” said J.J. Tompkins. “The Tompkins family has always deeply respected Todd and has a friendship spanning multiple generations and family companies. Our unique history and friendship, which began with my father many, many years ago, will continue into the future and for the next phase of News Media Corporation.”
“We are thrilled about this partnership with Carpenter Media Group and its potential for the future success of our family's legacy and the communities we serve. As a company deeply rooted in people, we are confident that this partnership will uphold our values and lead us to a bright future,” Tompkins added.
CMG owns and manages over 200 community and metro media titles in the U.S. and Canada and is dedicated to preserving and building community journalism and marketing services to develop and improve each community served.
NMC and the Tompkins family was represented by John Cribb of Cribb, Cope & Potts. CCP is a leading merger and acquisition firm with offices in Montana, California and Arkansas.
