New Media Investment Group

What New Media Investment Group does

New Media Investment Group is a New York-based, publicly listed holding company (NYSE: NEWM) whose stated focus is investing in a high-quality, diversified portfolio of local media assets. The firm operates as a roll-up vehicle for US local media, executing an aggressive M&A program across regional newspapers, multimedia groups, and adjacent media verticals. According to the input data, between 2014 and 2019 New Media completed at least ten acquisitions, including the transformative $1.4 billion acquisition of Gannett in August 2019, which made the combined entity the largest US local newspaper publisher. Other notable transactions include Halifax Media ($280M, January 2015), Stephens Media ($102.5M, February 2015), the Statesman ($47.5M, March 2018), Journal Multimedia ($18M, April 2016), and Calkins Media ($17.5M, May 2017), along with smaller acquisitions of digital, events, and automotive media assets such as Online Automotive Solutions and Rugged Events Holding.

The company's business model centers on acquiring and operating geographically distributed local media properties — predominantly daily and community newspapers — monetized through a mix of print and digital advertising, subscription and single-copy circulation revenue, and ancillary events and digital services. Senior leadership comprises Michael E. Reed as CEO, Wesley Edens as Chairman and Director, Kirk Davis as COO, and Jason Taylor as President, consistent with a public-company operating structure. The firmographic record lists headcount at 1–10, which reflects the lean holding-company corporate parent rather than the much larger operating workforce inherited through the Gannett merger.

The firm's competitive position rests on the local-market entrenchment of its titles — long-standing mastheads, established reader and advertiser relationships in their respective communities, and the cost efficiencies that come from centralizing back-office, production, and ad-sales functions across hundreds of properties. The roll-up strategy is the central business logic: scale-driven cost synergies, advertising yield improvements, and gradual digital monetization of legacy print audiences. The portfolio's underlying lineage traces back to 1906 per firmographic data, reflecting the historical continuity of the constituent newspaper businesses rather than the holding company itself.

Name

New Media Investment Group

Website

https://newmediainv.com

Company type

Private

Founded year

1906

Operating status

Operating

Headcount range

1–10 employees

Short description

New Media Investment Group (NYSE: NEWM) is a publicly listed holding company that acquires and operates a diversified portfolio of US local media assets, primarily newspapers, with a roll-up strategy executed through serial acquisitions culminating in the 2019 Gannett merger.

Ownership category

akta.pro rank

Product category

Local Newspaper Publishing

NAICS

Newspaper Publishers (51311)

SIC

Newspapers: Publishing Or Publishing & Printing (2711)

akta.pro primary industry

Local & Regional Newspapers (Print & Digital) (MPAJADAB)

akta.pro secondary industry

Media, Entertainment & Gaming Growth Equity (FSANACAI)

Keywords

• Local media investment
• Community newspaper publishing
• Media portfolio management
• Local news media
• Newspaper acquisitions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Core offering

New Media Investment Group is a publicly traded holding company that invests in and operates a diversified portfolio of local media assets, primarily community newspapers and associated digital publications across the United States. Its core activity is acquiring, integrating, and operating local news brands at scale, with its largest transaction being the 2019 acquisition of Gannett. The company generates revenue through advertising sales and paid subscriptions to its print and digital local news properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Gannett Local Newspaper Portfolio
• Halifax Media Group Newspapers
• Stephens Media Newspapers

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights4 records

Direct peers

• Tribune Publishing: Tribune Publishing operates a portfolio of major metropolitan and local newspapers across the US (e.g., Chicago Tribune, New York Daily News). It is a direct peer to New Media Investment Group given its scale as a multi-title local newspaper chain pursuing the same digital/print transition.
• Alden Global Capital / MediaNews Group: Alden Global Capital's MediaNews Group owns the second-largest US newspaper portfolio (Denver Post, Boston Herald, etc.). It is a direct peer as a roll-up acquirer of local newspapers competing for the same M&A targets and advertisers.
• Lee Enterprises: Lee Enterprises is one of the largest US local newspaper groups, operating daily and weekly publications across dozens of markets. It directly competes with New Media's portfolio for local advertising budgets and reader subscriptions.
• Schurz Communications: Schurz Communications owned regional newspapers and broadcast stations before exiting print. It is comparable to New Media as a regional/local media operator focused on community-based news brands.
• McClatchy Company: McClatchy operates a portfolio of regional and local US newspapers (Miami Herald, Sacramento Bee, etc.). It is directly comparable as a multi-title local newspaper operator with similar digital transformation challenges.
• BH Media Group (Berkshire Hathaway): BH Media Group operates a portfolio of local newspapers acquired from Media General in 2012. It is comparable to New Media as a multi-title local newspaper operator (subsequently sold to Lee Enterprises in 2020).

Others

• E.W. Scripps Company: Scripps operates local TV stations and national networks, targeting local advertising and political ad budgets. Comparable as a US local-media roll-up operator adjacent to New Media's newspaper-based local media portfolio.
• Sinclair Broadcast Group: Sinclair is a large US local media operator focused on broadcast television stations rather than print, but it competes for the same local advertiser dollars and political ad budgets as New Media's local newspaper properties.

Broad incumbents

• News Corp: News Corp is a major diversified media conglomerate owning the Wall Street Journal, New York Post, and a large newspaper portfolio in Australia/UK. It is comparable as a broad incumbent in the same news publishing space but at a much larger, globally diversified scale.
• Daily Mail and General Trust: DMGT (now dmg media) owns the Daily Mail, MailOnline, and other news assets, combining legacy print with large digital reach. Comparable as a broad incumbent newspaper operator investing in digital alongside print, though focused on UK/AUS markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Media Investment Group