Briefs

Seeking new markets, Paddock Publications expands again beyond Chicago suburbs with purchase of four Jones family weeklies in downstate Illinois

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Paddock Publications—which for decades focused on the greater Chicago market anchored by its Daily Herald in suburban Arlington Heights—for the second time in three months has added downstate Illinois newspapers to its portfolio of publications.

In an announcement in November, Paddock said it would soon close on the purchase of Gold Nugget Publications, publisher of four weeklies near the state capital of Springfield.

The deal also includes a printing plant in central Illinois. 

A Daily Herald article on the purchase said third-generation members of the Jones family had sought out Paddock because there were no potential successor owners. 

 “The family’s legacy of community newspapering is long and honored, and family members felt Paddock’s commitment to community service and journalism presented a natural fit,” Daily Herald Publisher and CEO Douglas K. Ray and President and COO Scott T. Stone said in a joint statement.

The weeklies involved in the Gold Nugget transaction are the Virden Recorder, Girard Gazette, Northwestern News and Panhandle Press

Terms of the deal were not disclosed. 

In their joint statement, Ray and Stone said the printing plant has commercial work under contract and would print weeklies Paddock acquired this summer. 

In August, Paddock purchased 12 newspapers in southern Illinois from GateHouse Media, including the dailies Benton Evening News; The Daily Register in Harrisburg; The Daily Republican in Marion; Du Quoin Evening Call and the Eldorado Daily Journal. 

Those newspapers are “performing nicely, surpassing revenue goals,” the statement said.

“Paddock’s strategic plan calls for growth in new and different ways, and this acquisition fits the bill. In fact, it is a perfect fit for us,” Ray and Stone said. “We are proud to have been selected to sustain the Jones family legacy.”