Freedom Communications Announces Sale of Clovis, NM News Journal to Clovis Media Inc
Freedom Communications announced Tuesday that it has reached agreement to sell the Clovis, NM News Journal and its associated publications, including the Portales News-Tribune and Tucumcari’s Quay County Sun, to Clovis Media Inc. “This transaction furthers our goal of providing value for our shareholders while at the same time adding to the Company’s financial strength,” said Freedom Chief Executive Officer Mitch Stern. “It also serves to optimize the geographical alignment of our properties, giving us greater abilities to create efficiencies.” He added: “The leadership of Clovis Media is keenly aware of the important role that newspapers play in their communities and shares our view that a newspaper must be strong in its commitment to providing the community with accurate and timely information and serving as an active steward of the values of the community. “We are extremely excited to be in New Mexico and associated with such wonderful papers,” said Gary Stevenson, a principal in Clovis Media Inc. along with his wife Sue and Garry Ellis. “We look forward to continue serving our communities with quality and integrity.” Rollie Hyde, Grimes, McGovern & Associates, represented Clovis Media in the transaction.
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