DIXON – Shaw Media announced today that it has agreed to acquire the assets of The Herald-News in Joliet from Sun-Times Media.
The purchase is expected to close during the first week of January. Terms of the deal were not disclosed.
The Herald-News has been serving Joliet, Will County and Grundy County communities for more than 150 years and will continue as part of Shaw Media’s newspaper group.
“We are excited to bring The Herald-News into our established, and growing, family-owned media portfolio,” Shaw Media President John Rung said. “We expect to maintain the storied tradition of serving the Joliet region with a high-quality, community-oriented newspaper.”
“We have found a great buyer for The Herald-News in Shaw Media,” said Tim Knight, president of Sun-Times Media. “This sale will allow the Sun-Times to focus its resources on transforming its core products.”
Shaw Media, based in Dixon, is the third oldest continuously owned and operated family media company in the nation. It is the parent company of the Daily Chronicle.
The purchase of The Herald-News adds to Shaw Media’s growing portfolio of publications in the Chicago suburbs. It follows the 2012 purchase of Downers Grove-based Suburban Life Media, which added 22 weekly publications in Cook, DuPage, Kane and Will counties to the company’s award-winning publications in Crystal Lake, DeKalb, Dixon, Grayslake, Morris, Princeton, St. Charles and Sterling in Illinois, and in Newton and Creston in Iowa.