AMARILLO, TX (KFDA) - Morris Communications Co. announced today that Amarillo's only print newspaper has been sold to GateHouse Media.
According to the Amarillo Globe-News, the sale includes 10 other daily newspapers, numerous non-daily publications, as well as associated websites and digital assets.
GateHouse Media is one of the largest newspaper companies in the country, owning more than 130 daily newspapers and more than 500 non-daily publications across the United States.
Chairman of Morris Communications William S. "Billy" Morris III said decision was challenging.
"Although this has been a difficult decision for me, we have found a wonderful buyer for the newspapers in GateHouse, as they are strongly committed to providing good community coverage for readers and effective solutions for advertisers," said Morris. "Every newspaper company in America is battling trends and redirected advertising dollars, so it is necessary for newspapers to be part of a large newspaper group to build and maintain the necessary resources to compete."
Under terms of the sale, Les Simpson will remain publisher of the Amarillo Globe-News.
While he declined to comment on the move, he said in the Amarillo Globe-News article that the sale is bittersweet.
"However, Gatehouse is a dynamic company that understands community journalism and helping businesses prosper and grow through innovative solutions," said Simpson. "I'm extremely pleased that we will be joining their team."
The Morris family will retain ownership of the Amarillo Globe-News building and property in downtown Amarillo, and the family is currently exploring redevelopment options for their facilities.
When it comes to the newspaper employees, New Media President and Chief Executive Officer Michael E. Reed said, "Gatehouse is very excited to welcome the Morris publications and their employees into their company."
The sale is expected to close October 2.