Brian Greenspun, who succeeded his parents, Sun founders Hank and Barbara Greenspun, as the newspaper’s editor and publisher, assumed control of the Sun and its parent organization, the Greenspun Media Group in Las Vegas, Nev. on July 1, 2014.
Thursday, Feb. 19, 2015 | 6:40 p.m.
An agreement between New York-based New Media Investment Group Inc. to purchase the company that owns the Las Vegas Review-Journal will have no effect on the Las Vegas Sun or the Greenspun Media Group, GMG owner Brian Greenspun said Thursday.
“We want to reassure readers and advertisers that no matter who owns the R-J, the Sun and Greenspun Media Group will be thriving for a long time to come. The Sun and Greenspun Media Group's other market-leading products will continue today, tomorrow and in the future,” Greenspun said. “We look forward to sitting down with New Media Investment Group as the sales process proceeds and discussing the performance of the joint operating agreement under which we publish.
“Some might say the R-J is an unusual newspaper for New Media Investments, which tends to specialize in small circulation newspapers in very small markets,” Greenspun continued. “We look forward to learning what their plans are for the R-J because we wonder how it fits into their interests and goals."
Under the joint operating agreement, the Sun is printed and distributed by the Las Vegas Review-Journal and receives a portion of the R-J’s advertising revenue. In addition to the Sun, GMG publishes a suite of print and digital titles that includes The Sunday, Las Vegas Weekly and Las Vegas Magazine.
New Media President and CEO Michael E. Reed said in a statement the company would purchase "substantially all of the assets" of Stephens Media LLC for $102.5 million cash.
New Media operates in more than 370 markets across 27 states, publishing 450 community publications.
Reed expects the deal to close in the first quarter of 2015. He says Stephens' publications have "a strong community focus, solid readership base and stable advertisers," with daily papers in Arkansas, Iowa, North Carolina, Oklahoma, Tennessee and Texas.
In Nevada, Stephens also owns the Pahrump Valley Times, Tonopah Times-Bonanza and Boulder City Review.
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