CV Corp. set to sell 3 papers: Publications in Ashland, Louisa and Goochland to be sold
(Richmond Times-Dispatch (VA) (KRT) Via Thomson Dialog NewsEdge) Dec. 25--CV Corp. of Louisa County is set to sign closing documents tomorrow for the sale of its community newspapers in Louisa, Goochland County and Ashland.
G.B. Duke, chairman of CV Corp., said yesterday that employees had been notified of the pending sale. Terms of the deal were not disclosed but, if it goes forward as planned, the newspapers will change hands Jan. 1.
The prospective buyer is Lakeway Publishers Inc. of Morristown, Tenn. Lakeway operates newspapers in Tennessee and Missouri and publishes consumer magazines and Civil War-related publications.
CV Corp. owns The Central Virginian in Louisa and The Goochland Courier, both weeklies. The twice-weekly Ashland-based The Herald-Progress, founded in 1881, was bought by CV Corp. in 2004. The private corporation is owned by a group of businesspeople in Louisa.
"Inevitably at some point it has to change hands," Duke said.
Duke said no changes in employment are expected at the three newspapers, with the exception of the retirement of their longtime publisher, Cathy Collins. Details of the deal will be printed in the newspapers on their regular publishing dates this week, he said.
No one from Lakeway Publishers could be reached for comment yesterday.
R. Jack Fishman, president and CEO of Lakeway Publishers, is a past president of the National Newspaper Association and has been a director of The Newspaper Association of America.
"He and his son, Jeff, pretty much run" the daily and weekly papers Lakeway owns, said Ginger Stanley, executive director of the Virginia Press Association. "They are hands-on newspaper people who have been doing this all their lives. They are dedicated to their communities."
Stanley said Jack Fishman has had a lifelong goal of branching his company into Virginia.
In August, Lakeway Publishers bought weekly papers serving the Northern Neck and a nearby county from Northern Neck Newspaper Group LLC. The deal involved the Northern Neck News, the Westmoreland News, the Northumberland Echo and the Caroline Progress.
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