New Media Announces The Acquisition Of The Foster's Daily Democrat

New Media Investment Group Inc. NEWM announced today that it completed the acquisition of the Foster's Daily Democrat along with other publications and related assets for $5.0 million in cash from the Foster family. The publications are located around Dover, NH, and the daily newspaper has a circulation of approximately 12,000. “I'm pleased to announce the acquisition of the Foster's Daily Democrat, a well-established daily newspaper first printed in 1873,” said Michael E. Reed, New Media's President and CEO. “In addition to the daily paper, New Media also acquired two weekly publications and one direct mail company. The publications are located approximately 13.0 miles northwest of New Media's cluster in Portsmouth, NH which make it ideal to integrate into our current operations. Under the leadership of the Foster family for the past 141 years, the Foster's Daily Democrat has remained the dominant source of local news in its community. As new owners of this historic paper, we look forward to continuing their long standing tradition and further enhancing the relationship with readers and businesses going forward.”