CHAMPAIGN — At an all-staff meeting today News-Gazette Media CEO John Reed announced to employees that an agreement has been signed to sell substantially all of its assets to the family-owned Champaign Multimedia Group LLC an affiliate company of Community Media Group. The sale is expected to close in early November.
CMG headquartered in downstate West Frankfort owns and operates community newspapers with websites in several Midwestern states including Illinois Indiana and Iowa as well as newspapers in Michigan Pennsylvania and New York.
The acquisition of News-Gazette Media will include three radio stations: WDWS WHMS and WKIO serving the Champaign-Urbana Danville and East Central Illinois areas Reed said. The acquisition will also include weekly newspapers free-distribution shoppers and websites serving Mahomet Rantoul Ford County Piatt County and Vermilion County.