Market Overview

New Media Announces Acquisition of a Majority Interest in Events Production Company, Rugged Events Holding LLC, for $10.4 Million


New Media Investment Group Inc. ("New Media" or the "Company", NYSE:
NEWM), one of the largest publishers of locally based print and online
media in the United States as measured by number of publications,
announced the acquisition of a majority interest in Rugged Events
Holding LLC ("Rugged Events") for $10.4 million. Rugged Events is the
production company behind the Rugged Maniac Obstacle Race series and
more than 90 premier endurance events in the U.S and Canada.

Rugged Events is a Shark Tank success story, utilizing a $1.75 million
investment from Mark Cuban to become one of the largest endurance event
companies in the nation based on number of events. Initially focused on
obstacle course racing, the company has since expanded into marathons
and other traditional road races, more than quadrupling its portfolio of
events in the four years since Cuban's investment.

Following the acquisition, Rugged Events will become a key component of
New Media's events company, GateHouse Live. GateHouse Live commenced in
2015 and has grown organically over the past three years to earn
approximately $20 million in revenue over the last twelve months. With
the addition of Rugged Events, GateHouse Live now hosts over 460 events
in over 300 markets in North America, with 650,000 annual attendees, and
a database of over 5.1 million users. GateHouse Live is also the only
national media events company to own and operate a network of endurance
events across the country.

"There's an important relationship between participatory sports and
media, which GateHouse allows us to fully realize," said Bradford
Scudder, Chief Executive Officer of Rugged Events. "This acquisition
allows us to accelerate our growth in both new and existing markets,
while also making us the leading multi-platform solution for brands that
want to reach the endurance sport audience through a combination of
media and experiential events."

This acquisition deepens a core element of New Media's events company,
which has seen robust growth over the past two years. In addition to
endurance events, GateHouse Live also specializes in high school and
community awards, food and wine festivals, and other highly engaging
community experiences.

"Owning both events and media outlets in local markets allows us to
deeply connect with communities while also providing a comprehensive,
one-of-a-kind platform for our partners to engage with consumers in a
meaningful and impactful way," said Jason Taylor, President of New Media
Ventures Group and President of GateHouse Live.

"Our entire team has worked hard over the past eight years to build a
portfolio of fun and challenging events, while also developing
industry-leading production capabilities," said Rob Dickens, Chief
Operating Officer of Rugged Events. "We're excited to bring our
experience and access to hundreds of thousands of active lifestyle
enthusiasts to GateHouse Live."

Mr. Scudder and Mr. Dickens, co-founders of Rugged Events, will
contribute to GateHouse Live in expanded roles, while retaining a
minority interest in Rugged Events.

About New Media Investment Group Inc.

New Media supports small to mid-size communities by providing
locally-focused print and digital content to its consumers and premier
marketing and technology solutions to our small and medium business
partners. The Company is one of the largest publishers of locally based
print and online media in the United States as measured by our 145 daily
As of July 1, 2018, New Media operates in over 570
markets across 37 states reaching over 23 million people on a weekly
basis and serves over 220,000 business customers.

For more information regarding New Media and to be added to our email
distribution list, please visit

Forward-Looking Statements

Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements regarding
growth expectations for GateHouse Live and Rugged Events, the expected
number of events to be held, our ability to attract attendees and
partners to events and realize the anticipated benefits from the
acquisition and other potential benefits of the acquisition. These
statements are based on management's current expectations and beliefs
and are subject to a number of risks and uncertainties, such as general
economic conditions in the markets in which we operate, inadequate
diligence, our ability to successfully grow the acquired business, event
cancellations and difficulties integrating the acquired business. These
and other risks and uncertainties could cause actual results to differ
materially from those described in the forward-looking statements, many
of which are beyond our control. The Company can give no assurance that
its expectations will be attained. Accordingly, you should not place
undue reliance on any forward-looking statements contained in this press
release. For a discussion of some of the risks and important factors
that could cause actual results to differ from such forward-looking
statements, see the risks and other factors detailed from time to time
in the Company's Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and other filings with the Securities and Exchange Commission.
Furthermore, new risks and uncertainties emerge from time to time, and
it is not possible for the Company to predict or assess the impact of
every factor that may cause its actual results to differ from those
contained in any forward-looking statements. Such forward-looking
statements speak only as of the date of this press release. The Company
expressly disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect
any change in the Company's expectations with regard thereto or change
in events, conditions or circumstances on which any statement is based.

View Comments and Join the Discussion!