BELOIT - Adams Publishing Group, LLC (APG) has acquired The Greater Beloit Publishing Company, which includes the Beloit Daily News, Weekend Daily News and My Stateline Shopper.
Also included in the purchase are all associated websites, Stateline Business Journal and the company's Midwest digital business. APG acquired the properties from Idaho-based Hagadone Newspapers, owner of the Beloit Daily News since 1969.
The announcement was made jointly by Mark Adams, CEO of Adams Publishing Group, and Brad Hagadone, President of Hagadone Newspapers, a division of the Hagadone Corporation.
Terms of the purchase were not disclosed.
"We are very excited to have the Beloit newspapers join the Adams group of newspapers," said Mark Adams. "The Beloit Daily News' longtime associates have served the Beloit community well and we look forward to continuing that tradition. Beloit is exactly the type of community we look for as we continue to expand our company, and this market fits well with other publishing properties we own in the great state of Wisconsin."
In southeast Wisconsin, the Minneapolis-based APG currently operates daily newspapers in Fort Atkinson and Watertown, and weeklies in Sun Prairie, Waterloo, Cottage Grove, Cambridge, Lake Mills, Milton, Waunakee, DeForest and Lodi. APG also recently announced an agreement to purchase The Gazette in Janesville and The Eagle Herald in Marinette, along with the Bliss Communications weekly community newspapers the Janesville Messenger, the Wisconsin/Illinois Stateline News and the Walworth County Shopper Advertiser.
"The Beloit Daily News is an award-winning publication," said Jeff Patterson, President of APG's Central Division. "We look forward to working with the talented staff in Beloit and uniting their efforts with our other award-winning publications in Wisconsin."
The Beloit Daily News was named Best in Class for the 2019 Wisconsin Newspaper Association's Better Newspaper Contest. The paper won more than 20 awards for news, features, enterprise reporting, opinion writing and advertising content.
The Beloit Daily News traces back to a series of newspapers founded in the 1840s. By 1915 the competing newspapers had all been consolidated under the banner of the Beloit Daily News. Duane Hagadone and the Hagadone Corporation purchased the Beloit Daily News from the Walter Strong family in January 1969.
The Beloit Daily News was the first daily newspaper in Wisconsin to introduce an online website edition, which launched in June 1995.
"This was a transaction that made sense for two family-owned companies," said Brad Hagadone. "The Daily News is an outstanding community newspaper operation but it's outside our company's western U.S. footprint. At the same time, it fits in well with Adams, a growing family newspaper company that already owns dailies and weeklies in Wisconsin."
Hagadone said it "was important for us to find the very best possible fit for our long term loyal employees at the BDN, to carry this historical community newspaper on into the future. We felt that the Adams Publishing Group, a well run family-owned company, was the right choice for us to carry on this mission."
Adams Publishing Group owns and operates 30 daily newspapers and over 100 weekly newspapers in 20 states. In addition to its community newspaper company, the Adams family operates radio stations, outdoor advertising, a wine distribution business, Camping World, Good Sam Club, and Gander Outdoors.
The Hagadone Corporation, headquartered in Coeur d'Alene, Idaho, owns 14 daily and weekly newspapers across Washington, Idaho and Montana. The company also owns several business journals and numerous niche publications.
The sale was handled for the sellers by Cribb, Greene & Cope.