published: Wednesday, August 28, 2013
HarborPoint Media and Halifax Media Group enter into letter of intent
LEESBURG - Halifax Media Group, based in Daytona Beach, and HarborPoint Media have entered into a letter of intent for Halifax to acquire the assets of HarborPoint, principally the Daily Commercial of Leesburg, the News-Sun of Sebring and the South Lake Press of Clermont. The companies anticipate closing the transaction as of Sept. 30.
"We believe that Halifax is a good home for our employees and newspapers," said Russell Denson, a HarborPoint director. "As a larger newspaper publisher in the Florida market, Halifax brings additional resources and capabilities to expand and enhance the newspapers' service to their readers, advertisers and communities."
"We are excited about the deal. The Daily Commercial, the largest newspaper in the group, is located in Leesburg, within an hour of both the Halifax's News-Journal in Daytona Beach and the Star-Banner in Ocala. Plus, the News-Sun operation based in Sebring is near our Lakeland operation," said Michael Redding, CEO of Halifax Media Group. "These Central Florida markets are positioned in the heart of our Florida footprint. We know the markets and the publications."
Dirks Van Essen & Murray, a newspaper merger and acquisition firm located in Santa Fe, N.M., represented Halifax in the transaction.
Founded in 2010, Halifax Media Group is headquartered in Daytona Beach. The company's investment group includes Stephens Capital Partners, JAARSSS Media, and Redding Investments. The group consists of 33 newspapers and affiliated websites, published in five states in the Southeast. Halifax Media Group's strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community.
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