Company completes sale of family-owned publishing business

Markets Associated Press

A New York-based media company announced it has completed the purchase of the family-owned business that operates The Newport Daily News.

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The Providence Journal reports GateHouse Media Inc. announced on Tuesday that it closed on the purchase of the Daily News and several other publications, including Newport Life Magazine, The Independent and Mercury.

GateHouse Media CEO Kirk Davis says they plan to uphold the "fine journalism and service to the community" the Sherman family has provided for close to 100 years.

Albert Sherman Jr., retired publisher of the Daily News and president of Sherman Publishing's board of directors, previously described the sale as "one of the saddest days" of his life.

GateHouse Media publishes more than 600 community newspapers, including 125 dailies, in 38 states.

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Information from: The Providence Journal, http://www.providencejournal.com