Virginia News Group, publisher of the Arundel family-owned Loudoun Times-Mirror, has sold three weeklies—the Fauquier Times, Prince William Times and Gainesville Times to a group of local investors who formed Piedmont Media.
Terms of the transaction were not disclosed. Virginia News Group was represented in the sale by Randy Cope, managing director of Cribb, Greene & Cope, a newspaper brokerage, appraisal, and consulting firm with offices in Virginia, Montana, and Missouri.
Virginia News Group is owned by Middleburg, Va., resident Peter Arundel. The company was founded by Arundel’s father, Arthur “Nick” Arundel, in 1963 with the purchase of the Loudoun Times-Mirror.
“Our readers and advertisers in Fauquier are very well-served by this transaction”, Peter Arundel said. “The buyers are very passionate about this county and the vital role that the paper plays in nurturing its special character.”
The buyers of the weeklies all reside in Fauquier and are represented by Marshall resident George Thompson, who is chairman of Piedmont Media.
“Our goal is to build a newspaper that is as good and honest and as able as are the people of Fauquier County,” Thompson said in a statement. We will invest in expanded coverage of the topics of greatest interest to the people who hold the county dear. Our primary objective is to improve, over time, reporting and presentation of news, local business, events, agriculture, conservation, sports, equestrian and other features.”