Wick Communications sold its Half Moon Bay Review weekly in San Mateo County, California, to a newly formed local company, Coastside News Group.
Dirks, Van Essen, Murray & April, a media merger and acquisition firm based in Santa Fe, New Mexico, represented Wick Communications in the transaction. Terms of the transaction were not disclosed.
The buyers, abbreviated as CNG, includes San Mateo County residents Lenny Mendonca, Rich Klein, Roy Salume, Susy Castoria and Kelly Hoffman-Davis.
“We are excited and honored to serve our Coastside neighbors by preserving and bringing new vitality to the Half Moon Bay Review, which will operate as a self-sustaining, independently owned, community newspaper,” said Lenny Mendonca, Coastside News Group’s lead investor and managing partner. “We thank Wick Communications for their ongoing support of quality journalism, and we are committed to ensuring local journalism not only survives but thrives!”
Wick Communications owns 27 newspapers in 18 markets and has owned the Half Moon Bay Review for more than 30 years.
The Review was the only California property in the privately held, Arizona-based company’s portfolio.
“We are pleased to pass the baton of the Half Moon Bay Review to a local group of civic leaders,” said Francis Wick, CEO of Wick Communications. “We are confident they will continue to sustain this award-winning publication as a community asset for years to come.”