Agreement Reached for Sale of Lehman Communications
LONGMONT, CO, January 21, 2011 - Lehman Communications Corporation, publisher of three daily newspapers, four weekly publications and the operator of a printing facility in Colorado, has agreed to be acquired by Prairie Mountain Publishing Company, a subsidiary of Denver based MediaNews Group. Closing is expected later this month.
Dirks, Van Essen & Murray, a newspaper brokerage firm in Santa Fe, New Mexico, represented Lehman Communications in the transaction.
Lehman Communications' newspapers include the Longmont Times-Call, daily circulation 19,759 and Sunday circulation 21,378; the Loveland Reporter-Herald, daily circulation 15,905 and Sunday circulation 16,304; and the Cañon City Record, daily circulation 6,356. Weekly newspapers include Colorado Hometown Weekly, circulation 20,200. The newspapers are distributed in parts of Larimer, Boulder, Fremont and Weld counties.
The announcement was made today by Lehman owners Edward and Dean Lehman and William Dean Singleton, Chairman and CEO of MediaNews Group.
"We have experienced a lively and exciting 54 years in local newspaper publishing. We are thankful for this opportunity," said Ed Lehman, publisher of the newspapers, adding, "Our company is an active part of community life in three great cities. Also, our newspapers have served the people of many nearby towns and cities as well. Now it is time for our company to join a larger regional Colorado based newspaper publishing firm. We look forward to great things ahead for the newspapers and the communities we serve as our company joins Prairie Mountain Publishing.
"We will always be grateful to the newspapers' employees, readers, advertisers, and friends for their support and encouragement throughout the decades," Lehman said. "Each of these communities have made many ongoing improvements to increase the quality of life for their citizens."
"MediaNews is excited to add these outstanding, award-winning newspapers to our family of newspapers," said Singleton. "Colorado is our home, and it is rare to have the opportunity to expand in our home state."
Singleton added, "We are especially pleased that Ed and Dean Lehman will continue in their roles after the transaction is completed. Their knowledge and involvement in their communities will be invaluable as we continue the fine work of these newspapers."
The daily newspapers published by Lehman Communications, the Times-Call in Longmont, the Reporter-Herald in Loveland and the Daily Record in Cañon City, trace their beginnings to the 1880s, and earlier for the Times-Call. The Times-Call has been published by the Lehman family since 1957. The company has published the Reporter-Herald since 1967 and the Daily Record since 1978.
In addition to the daily newspapers, Lehman Communications publishes the Colorado Hometown Weekly serving Louisville, Lafayette and Erie. Additional publications include Longmont Weekly, Longmont Magazine, Loveland Today, RH Weekly and the Royal Gorge Shopping News.
The company opened a new 62,000-square-foot newspaper and commercial printing, inserting and distribution center in Berthoud, Colorado in 2009. The central feature of the new printing facility is a Manroland Uniset 75 press capable of printing color on all pages at 75,000 copies per hour. Also, the company offers news and information on four web sites including TimesCall.com, ReporterHerald.com, CanonCityRecord.com and ColoradoHometownWeekly.com.
Prairie Mountain Publishing Company publishes all of MediaNews Group's newspapers located in Colorado other than The Denver Post. The Group includes the Boulder Daily Camera, Sterling Journal-Advocate, Fort Morgan Times, Colorado Daily and nine weekly publications.
If you have further questions contact Dirks, Van Essen & Murray at 505-820-2700.