Suburban Chicago Daily Herald parents expands its Illinois portfolio with buy


Paddock Publications, the parent company of the Daily Herald in suburban Chicago, has acquired Pana News, which publishes three weeklies in central Illinois.

The papers in the sale, which was to close Jan. 4, are the Pana News-Palladium, Golden Prairie News in Assumption and the Free Press-Progress in Nokomi

Terms were not disclosed.

“This acquisition, along with others in the past two years, are in keeping with our strategic plan to broaden Paddock’s income streams,” Doug Ray, the chairman, publisher and CEO of the Daily Herald Media Group, told staff in an email, reported by the Chicago media blogger Rob Feder.