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Section 1: 10-K (10-K)

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
x
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 30, 2018
OR
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from                      to                     
Commission file number: 001-36097
New Media Investment Group Inc.
(Exact name of registrant as specified in its charter)
Delaware
 
38-3910250
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
1345 Avenue of the Americas 45th floor,
New York, New York
 
10105
(Address of principal executive offices)
 
(Zip Code)
Telephone: (212) 479-3160
(Registrant’s telephone number, including area code)
Securities Registered Pursuant to Section 12(b) of the Act:
Title of each class:
 
Name of each exchange on which registered:
Common stock, par value $0.01 per share
 
New York Stock Exchange
Securities Registered Pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  x    No  ¨
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.    Yes  ¨    No  x
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit such files).    Yes  x    No  ¨
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer  x
  
Accelerated filer  ¨
  
Non-accelerated filer  ¨
  
Smaller reporting company  ¨
 
Emerging growth company  ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x
The aggregate market value of the voting common equity held by non-affiliates of the registrant on July 1, 2018, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $925.4 million. The market value calculation was determined using a per share price of $18.48, the price at which the registrant’s common stock was last sold on the New York Stock Exchange on such date. For purposes of this calculation, shares held by non-affiliates excludes only those shares beneficially owned by the registrant’s executive officers, directors, and stockholders owning 10% or more of the registrant’s outstanding common stock (and, in each case, their immediate family members and affiliates).
As of February 25, 2019, 60,511,022 shares of the registrant’s common stock were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of our definitive proxy statement, to be filed with the Securities and Exchange Commission pursuant to Regulation 14A within 120 days of the Company’s fiscal year-end, are incorporated by reference into Part III, Items 10-14 of this Annual Report on Form 10-K.
 


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NEW MEDIA INVESTMENT GROUP INC.
FORM 10-K
FOR THE YEAR ENDED DECEMBER 30, 2018
TABLE OF CONTENTS
 
 
 
 
 
Page
 
 
Item 1
Item 1A
Item 1B
Item 2
Item 3
Item 4
 
 
 
 
 
Item 5
Item 6
Item 7
Item 7A
Item 8
Item 9
Item 9A
Item 9B
 
 
 
 
 
Item 10
Item 11
Item 12
Item 13
Item 14
 
 
 
 
 
Item 15
Item 16


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CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Certain statements in this report on Form 10-K may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect our current views regarding, among other things, our future growth, results of operations, performance and business prospects and opportunities, as well as other statements that are other than historical fact. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “target(s),” “project(s),” “believe(s),” “will,” “aim,” “would,” “seek(s),” “estimate(s)” and similar expressions are intended to identify such forward-looking statements.
Forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of known and unknown risks, uncertainties and other factors that could lead to actual results materially different from those described in the forward-looking statements. We can give no assurance that our expectations will be attained. Our actual results, liquidity and financial condition may differ from the anticipated results, liquidity and financial condition indicated in these forward-looking statements. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause our actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others:
general economic and market conditions;
economic conditions in the various regions of the United States;
the growing shift within the publishing industry from traditional print media to digital forms of publication;
declining advertising revenue and circulation subscribers;
our ability to grow our digital marketing and business services initiatives, and grow our digital audience and advertiser base;
our ability to grow our business organically;
our ability to acquire local media print assets at attractive valuations;
the risk that we may not realize the anticipated benefits of our recent or potential future acquisitions;
the availability and cost of capital for future investments;
our indebtedness may restrict our operations and/or require us to dedicate a portion of cash flow from operations to the payment of principal and interest;
our ability to pay dividends consistent with prior practice or at all;
our ability to reduce costs and expenses;
our ability to realize the benefits of the Management Agreement (as defined below);
the impact of any material transactions with the Manager (as defined below) or one of its affiliates, including the impact of any actual, potential or perceived conflicts of interest;
effects of the completed merger of Fortress Investment Group LLC with affiliates of SoftBank Group Corp.;
the competitive environment in which we operate; and
our ability to recruit and retain key personnel.
Additional risk factors that could cause actual results to differ materially from our expectations include, but are not limited to, the risks identified by us under the heading “Risk Factors” in Item 1A of this report. Such forward-looking statements speak only as of the date on which they are made. Except to the extent required by law, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.


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PART I
Item 1.Business
General Overview
New Media Investment Group Inc. (“New Media,” “Company,” “us,” or “we”) owns, operates and invests in high-quality local media assets focused in small to mid-size markets. With our collection of assets, we are focused on the local audience and small to medium-sized businesses (“SMBs”) in our communities.
Our current portfolio of media assets spans across 581 markets and 37 states. Our products include 678 community print publications and 581 websites. As of December 30, 2018, we reached over 22 million people per week and served over 199,000 business customers.
Our mission is to be the local audience and small business expert in the markets that we operate in. We leverage this local expertise to sell our unique, hyperlocal content to consumers and our market-leading technology solutions to SMBs. There are three key elements of our strategy:
1.We aim to grow our business organically through both our consumer and SMB strategies,
2.We pursue strategic acquisitions of high-quality local media and digital marketing assets at attractive valuation levels, and
3.We intend to distribute a portion of our free cash flow generated from operations or other sources as a dividend to stockholders through a quarterly dividend, subject to satisfactory financial performance, approval by our board of directors (the “Board of Directors” or “Board”) and dividend restrictions in the New Media Credit Agreement (as defined below). The Board of Directors’ determinations regarding dividends will depend on a variety of factors, including the Company’s U.S. generally accepted accounting principles (“GAAP”) net income, free cash flow generated from operations or other sources, liquidity position and potential alternative uses of cash, such as acquisitions, as well as economic conditions and expected future financial results.
We believe that our focus on owning and operating leading local-content-oriented media properties in small to mid-size markets puts us in a position to better execute on our strategy. We believe that being the leading provider of local news and information in the markets in which we operate, and distributing that content across multiple print and digital platforms, gives us an opportunity to grow our audiences and reach. Further, we believe our strong local media brands and our market presence give us the opportunity to expand our advertising and lead generation products with local business customers.
For our SMB category, we focus on leveraging our strong local media brands, our in-market sales force and our high consumer penetration rates to offer technology solutions that allow SMBs to operate efficiently and effectively in a digital world. Central to this business strategy is our wholly-owned subsidiary UpCurve, Inc. ("UpCurve"). UpCurve provides two broad categories of services: ThriveHive, previously known as Propel Marketing, which provides guided marketing solutions for SMBs, and UpCurve Cloud, which offers cloud-based products with expert guidance and support. ThriveHive is designed to offer a complete set of turn-key guided marketing and business solutions to SMBs that provide transparent results to the business owners. In 2016, we acquired a turn-key proprietary software application that enables SMB owners to run their own digital and guided marketing campaigns, and we have made a number of strategic acquisitions since.
We launched the UpCurve products in 2012 and have seen rapid growth since then. We believe UpCurve, combined with our strong local brands and in-market sales force, is positioned to continue to be a key contributor to our overall organic growth strategy. UpCurve is well positioned to seize upon the approximately 30.2 million SMBs in the U.S. in 2015 according to the U.S. Small Business Administration. Of these, approximately 29.0 million had 20 employees or fewer.
Many of the owners and managers of these SMBs do not have the resources or expertise to navigate the fast evolving workplace technologies market but are increasingly aware of the need to embrace the digital disruption to their business model.
GateHouse Live, our events and promotions business, was started in late 2015 to leverage our local brands to create world-class events in the markets we serve.  In 2018, GateHouse Live produced over 350 events with a collective attendance over 400,000.  Among our core event offerings are a variety of themed expos focused on target audiences, including men, women, seniors and young families.  Other signature event series produced across many of our markets include one of the nation's largest high school sports recognition events and the official community's choice awards for dozens of markets across the country.  In 2018, GateHouse Live expanded into endurance events that include a network of over 90 marathons, half

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marathons, other footraces and obstacle course races across the United States and Canada with over 250,000 attendees annually.  GateHouse Live also offers white label event services for retailers and other media companies.
Portfolio Detail
Our core products include:
146 daily newspapers with total paid circulation of approximately 1.5 million;
323 weekly newspapers (published up to three times per week) with total paid circulation of approximately 268,000 and total free circulation of approximately 1.4 million;
132 “shoppers” (generally advertising-only publications) with total circulation of approximately 3.1 million;
581 locally-focused websites, which extend our businesses onto the internet and mobile devices with approximately 364 million page views per month;
77 business publications;
UpCurve Cloud and ThriveHive digital marketing; and
GateHouse Live.
In addition to our core products, we also opportunistically produce niche publications that address specific local market interests such as recreation, sports, healthcare and real estate. Our print and online products focus on the local community from a content, advertising, and digital marketing perspective. As a result of our focus on small and mid-size markets, we are usually the primary, and, sometimes the sole provider of comprehensive local market news and information in the communities we serve. Our content is primarily devoted to topics that we believe are highly relevant and of interest to our audiences such as local news and politics, community and regional events, youth sports, opinion and editorial pages, local schools, obituaries, weddings and police reports.
We believe our local media properties and local sales infrastructure are uniquely positioned to sell digital marketing and business services to local business owners and give us distinct advantages, including:
our strong and trusted local brands, with 88% of our daily newspapers having published local content for more than 100 years;
our ability to market through our print and online properties, driving branding and traffic; and
our more than 1,160 local, direct, in-market sales professionals with long-standing relationships with small businesses in the communities we serve.
More than 88% of our daily newspapers have been published for more than 100 years, and all have been published for more than 50 years. We believe that the longevity of our publications demonstrates the value and relevance of the local information that we provide and has created a strong foundation of reader loyalty and a highly-recognized media brand name in each community we serve. As a result of these factors, we believe that our publications have high local audience penetration rates in our markets, thereby providing advertisers with strong local market reach.
We believe the large number of publications we have, our focus on smaller markets, and our geographic diversity also provide the following benefits to our strategy:
Diversified revenue streams, both in terms of customers and markets;
Operational efficiencies realized from clustering of business assets;
Operational efficiencies realized from centralization of back office functions;
Operational efficiencies realized from improved buying power for key operating cost items through our increased size and scale;
Ability to provide consistent management practices and ensure best practices; and
Less competition and high barriers to entry.
The revenues derived from our SMB category come from a variety of print and guided online marketing and business solutions products we offer through UpCurve and commercial printing services. Our consumer revenue category comes primarily from subscription income from consumers that pay for our deep, rich local content, primarily in print and also online.

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Our operating costs consist primarily of labor, newsprint, and delivery costs. Our selling, general and administrative expenses consist primarily of labor costs. Compensation represents just under 50% of our expenses. Over the last few years, we have worked to drive efficiencies and centralization of work throughout our Company. Additionally, we have taken steps to cluster our operations, thereby increasing the production volume of our facilities and equipment while increasing the productivity of our labor force. We expect to continue to employ these steps as part of our business strategy.
New Media was formed as a Delaware corporation on June 18, 2013. New Media had no operations until November 26, 2013, when it assumed control of GateHouse Media, Inc. ("GateHouse") and Local Media Group Holdings LLC. GateHouse was determined to be the predecessor to New Media, as the operations of GateHouse comprised substantially all of the business operations of the combined companies. Pursuant to a restructuring, Newcastle Investment Corp. (“Newcastle”) owned approximately 84.6% of New Media until February 13, 2014, upon which date Newcastle distributed the shares that it held in New Media to its shareholders on a pro rata basis. New Media is externally managed and advised by an affiliate of Fortress Investment Group LLC (“Fortress”).
Management Agreement
On November 26, 2013, New Media entered into a management agreement (as amended and restated, the "Management Agreement") with FIG LLC (the "Manager"), an affiliate of Fortress, pursuant to which the Manager manages the operations of New Media. We pay the Manager an annual management fee equal to 1.50% of New Media’s Total Equity (as defined in the Management Agreement), and the Manager is eligible to receive incentive compensation. On December 27, 2017, SoftBank Group Corp. (“SoftBank”) acquired Fortress (the “SoftBank Merger”). Subsequent to the SoftBank Merger, Fortress operates within SoftBank as an independent business headquartered in New York. Fortress’s senior investment professionals who perform services for us have and are expected to continue to remain in place.
Acquisitions
During 2016, we acquired substantially all the assets and assumed substantially all of the liabilities of certain publications/businesses, which included 68 business publications, seven daily newspapers, seven weekly publications, eleven shoppers and digital platforms for an aggregate purchase price of $135.9 million, including working capital.
During 2017, we acquired substantially all the assets, properties, and business of certain publications/businesses, which included four business publications, 22 daily newspapers, 34 weekly publications, 24 shoppers, two customer relationship management solutions providers, a social media app and an event production business for an aggregate purchase price of $165.1 million, including working capital.
During 2018, we acquired substantially all the assets, properties, and business of certain publications/businesses, which included seven business publications, eight daily newspapers, 16 weekly newspapers, one shopper, a print facility, an events production business, cloud services and digital platforms and related domains, for an aggregate purchase price of $205.7 million, including estimated working capital and contingent consideration.
Long-Lived Asset Impairment
During the year ended December 31, 2017, the Company ceased printing operations at 15 facilities as part of ongoing cost reduction programs.  As a result, the Company recognized an impairment charge related to retired equipment of $7.1 million and accelerated depreciation of $2.4 million during the year ended December 31, 2017.
During the year ended December 30, 2018, the Company ceased operations of seven print publications and six printing operations as part of ongoing cost reduction programs. As a result, the Company recognized an impairment charge related to retired equipment of $0.5 million and intangibles of $0.6 million and accelerated depreciation of $3.6 million during the year ended December 30, 2018.
Dispositions
On June 2, 2017, we completed the sale of the Mail Tribune, located in Medford, Oregon, for approximately $14.7 million, including working capital.  As a result, a pre-tax gain of approximately $5.4 million, net of selling expenses, is included in net (gain) loss on sale or disposal of assets on the Consolidated Statement of Operations and Comprehensive Income (Loss) during the year ended December 31, 2017.
On February 27, 2018, the Company sold a parcel of land and a building located in Framingham, Massachusetts for a sale price of $9.3 million and recognized a pre-tax gain of approximately $3.3 million, net of selling expenses, which is included in

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net (gain) loss on sale or disposal of assets on the Consolidated Statement of Operations and Comprehensive Income (Loss) during the year ended December 30, 2018.
On May 11, 2018, the Company completed its sale of certain publications and related assets in Alaska for approximately $2.4 million, including working capital. As a result, a nominal pre-tax gain, net of selling expenses, is included in net (gain) loss on sale or disposal of assets on the Consolidated Statement of Operations and Comprehensive Income (Loss) during the year ended December 30, 2018.
Subsequent Events
Dividends
On February 27, 2019, we announced a fourth quarter 2018 cash dividend of $0.38 per share of common stock, par value $0.01 per share, of New Media ("New Media Common Stock" or our "Common Stock"). The dividend will be paid on March 20, 2019, to shareholders of record as of the close of business on March 11, 2019.
Acquisitions
On January 31, 2019, the Company completed its acquisition of substantially all of the publishing and related assets of Schurz Communications, Inc. for $30 million, plus working capital. The acquisition was financed from cash on hand. The acquisition includes ten daily newspapers, nine weekly publications and fourteen other community publications serving areas of Indiana, Maryland, South Dakota and Michigan.
Industry Overview
We operate in what is sometimes referred to as the “hyper-local” or community news markets within the media industry. Media companies that serve this segment provide highly-focused local content and advertising that is generally unique to each market they serve and is not readily obtainable from other sources. Local publications include community newspapers, websites, shoppers, traders, real estate guides, special interest magazines and directories. Due to the unique local nature of their content and audience, community publications compete for advertising customers with other forms of traditional media, including direct mail, directories, radio, television, and outdoor advertising. They also compete with new local and national digital and social media businesses for advertising and digital and business services customers. We believe that local print and online publications in smaller markets are the most effective medium for local retail advertising, which emphasizes the price of goods in an effort to move inventory on a regular basis, in contrast to radio, broadcast and cable, television, and the internet, which are generally used for image or branding advertising. In addition, we believe local print and online publications generally have the highest local audience penetration rates, which allows local advertisers to get their message to a large portion of the local audience. Finally, national digital competitors tend to have no local in-market sales presence, which we believe gives the local community publications an advantage when selling these types of products and services.
Locally-focused media in small and mid-size communities is distinct from national and urban media delivered through outlets such as television, radio, metropolitan and national newspapers and the internet. Larger media outlets tend to offer broad based information to a geographically-scattered audience, which tends to be more of a commodity. In contrast, locally-focused media delivers a highly-focused product that is often the only source of local news and information in the market it serves. Our segment of the media industry is also characterized by high barriers to entry, both economic and social. Small and mid-size communities can generally only sustain one newspaper. Moreover, the brand value associated with long-term reader and advertiser loyalty and the high start-up costs associated with developing and distributing content and selling advertisements help to limit competition.
We also believe there is a growing need among SMBs to be able to generate leads and interact with consumers across all digital platforms -- including websites, mobile sites, mobile and tablet applications, and social media. These local business owners and managers lack the time, expertise and resources to capitalize on the potential of these consumer-reaching channels. National competitors in this category do not generally have a local in-market presence. Newly-formed competitors lack a known and credible brand name and generally do not have a local in-market presence. We believe this represents a substantial opportunity for our local media business.
Advertising Market
The primary sources of advertising revenue for local publications are small businesses, corporations, government agencies and individuals that reside in the market that a publication serves. By combining paid circulation publications with total market coverage (“TMC”) publications, such as shoppers and other specialty publications (tailored to the specific attributes of a local community), local publications are able to reach nearly 100% of the households in a distribution area. As macroeconomic conditions in advertising change, due to increasing internet and mobile usage and the wide array of available

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information sources, we have seen advertisers shift their focus to incorporate a digital advertising and services component into their overall local marketing strategy. To that end, in addition to printed products, the majority of our local publications have an online presence that further leverages the local brand, ensures higher penetration into the market, and provides a digital alternative for local advertisers to reach consumers. We also have strong digital marketing and business services offered through ThriveHive and UpCurve Cloud.
Digital Media
The time spent online and on mobile devices each day by media consumers continues to grow, and newspaper websites offer a wide variety of content providing comprehensive, in-depth and up-to-the-minute coverage of news and current events. The ability to generate, publish and archive more news and information than most other sources has allowed newspapers to produce some of the most visited sites on the internet.
We believe that our local publications are well positioned to capitalize on their existing market presence and grow their total audience base by publishing proprietary local content digitally: via the internet and mobile applications. Local digital media include traditional classifieds, directories of business information, local advertising, databases, audience-contributed content and mobile applications. We believe this additional community-specific content will further extend and expand both the reach and the brand of our publications with readers and advertisers. We believe that building a strong local digital business extends the core audience of a local publication.
The opportunity created by the digital extension of the core audience makes local digital advertising an attractive complement for existing print advertisers, while opening up opportunities to attract new local advertisers that have not previously advertised with local publications. In addition, we believe that national advertisers have an interest in reaching buyers on a hyper-local level and, although they historically have not been significant advertisers in community publications, we believe that digital media offers them a powerful medium to reach local audiences. We seek to attract national advertisers in part through our behavioral-targeting products, which allow advertisers to reach specific demographics of our audience and follow that audience across multiple websites, delivering advertisements across the platforms. As a digital marketing services businesses, we are poised to benefit from the rise in internet marketing spend, which grew 21% between 2016 and 2017, and 315% between 2007 and 2018, according to the 2017 IAB Internet Advertising Revenue Report issued in May 2018.
We believe that a strong digital business will enhance our revenues. In addition, we believe that we have the expertise and sales resources to help other businesses maximize their digital opportunities. UpCurve, which we started in order to focus on helping SMBs adopt technology solutions, has grown its digital and business services revenue derived from advertising, marketing, and other revenue since the launch of ThriveHive in 2012. New Media’s digital and business services revenue was $179.2 million for the year ended December 30, 2018, a 25.0% growth as compared with the same period in 2017, which had digital and business services revenue of $143.4 million. Of this, $95.8 million, or 53.5% of digital revenue for the year ended December 30, 2018 was attributable to UpCurve. See “Risk Factors—Risks Related to Our Business—We have invested in UpCurve, but such investments may not be successful, which could adversely affect our results of operations.”
We anticipate that the digital marketing and business services sector will continue to grow as SMBs move from print to digital marketing in connection with consumers spending more time online. According to a BIA Advisory Services, digital revenues are expected to grow to $59.6 billion in 2019. We believe that UpCurve is well positioned to assist SMBs in the digital space and expect UpCurve to contribute meaningfully to future revenue growth.
Circulation
Overall daily newspaper print circulation, including national and urban newspapers, has been declining over the past several years. Small and mid-size local market newspapers, however, have generally had smaller declines and more stability in their paid print circulation volumes due to the relevant and unique hyper-local news they produce combined with less competition than in larger markets. In addition, we believe this unique and valuable hyper-local content, along with the multiple delivery platforms that are now available, will allow smaller market newspapers to continue to raise prices, leading to stable circulation revenues. Data and technology now available to newspaper companies allow them to target pricing more at the household level rather than purely by market. This will lead to more effective pricing strategies and enhance stability for circulation revenues.
Our Strengths
High Quality Assets with Leading Local Businesses. Our publications benefit from a long history in the communities we serve as one of the leading, and often, the sole providers of comprehensive local content. More than 88% of our daily newspapers have been published for more than 100 years, and all have been published for more than 50 years. This has resulted in brand recognition for our publications, reader loyalty and high local audience penetration rates, which are highly valued by

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local advertisers. We continue to build on long-standing relationships with local advertisers and our in-depth knowledge of the consumers in our local markets. We believe our local news content is unique and highly valued by consumers who live in our markets, and there are limited, and in some cases no competing sources of local content for our target customers.
Large Locally Focused Sales Force. We have large and well known “in-market” local sales forces in the markets we serve, consisting of over 1,160 sales representatives, including 61 dedicated to UpCurve and seven third-party sales affiliations. Our sales forces are generally among the largest locally-oriented media sales forces in their respective communities. We have long-standing relationships with many local businesses and have the ability to be face to face with most local businesses due to these unique characteristics we enjoy. We believe our strong brands combined with our “in-market” presence give us a distinct advantage in selling and growing in the digital services sector given the complex nature of these products. We also believe that these qualities provide leverage for our sales force to grow additional future revenue streams in our markets, particularly in the digital sector.
Ability to Acquire and Integrate New Assets. We have created a national platform for consolidating local media businesses and have demonstrated an ability to successfully identify, acquire and integrate local media asset acquisitions. Together with our predecessor, we have acquired over $2.7 billion of assets since 2006, including traditional newspaper, business publication, business services and directory businesses. We have a scalable infrastructure and platform to leverage for future acquisitions.
Scale Yields Operating Profit Margins and Allows Us to Realize Operating Synergies. We believe we can generate higher operating profit margins than our publications could achieve on a stand-alone basis by leveraging our operations and implementing revenue initiatives, especially digital and business services initiatives, across a broader local footprint in a geographic cluster and by centralizing certain back-office production, accounting, administrative and corporate operations. We also benefit from economies of scale in the purchase of insurance, newsprint and other large strategic supplies and equipment. Finally, we have the ability to further leverage our centralized services and buying power to reduce operating costs when making future strategic accretive acquisitions.
Local Business Profile Generates Significant Cash Flow. Our local business profile allows us to generate significant recurring cash flow due to our diversified revenue base and high operating profit margins while maintaining our low capital expenditure and working capital requirements. As of December 30, 2018, our debt structure consists of the New Media Credit Agreement and Advantage Credit Agreement (as defined below). We believe that we have the ability to generate significant free cash flow that has the potential to lead to stockholder value creation through our investments in organic growth, investments in accretive acquisitions and the return of cash to stockholders in the form of dividends, subject to satisfactory financial performance, approval by our Board of Directors and dividend restrictions in the New Media Credit Agreement. We further believe the strong cash flows generated and available to be invested will lead to consistent future dividend growth.
Experienced Management Team. Our senior management team is made up of executives who have an average of over 27 years of experience in the media industry, including strong traditional and digital media expertise. Our management team has broad industry experience with regard to both growing new digital and business services lines and identifying and integrating strategic acquisitions. Our management team also has key strengths in managing geographically dispersed teams, including the sales force, and identifying and centralizing duplicate functions across businesses leading to reduced core infrastructure costs.
Our Strategy
We intend to create stockholder value through a variety of factors including organic growth driven by our consumer and SMB strategies, pursuing attractive strategic acquisitions of high-quality local media assets, and through the distribution of a portion of our free cash flow generated from operations and other sources as a dividend, subject to satisfactory financial performance, approval by our Board of Directors and dividend restrictions in the New Media Credit Agreement. However, there is no guarantee that we will be able to accomplish any of these strategic initiatives.
A key component of our strategy is to acquire and operate traditional local media businesses and transform them from print-centric operations to dynamic multi-media operations through our existing online advertising, guided marketing and business solutions. We will also leverage our existing platform to operate these businesses more efficiently. We believe all of these initiatives will lead to revenue and cash flow growth for New Media. We intend to distribute a portion of our free cash flow generated from operations and other sources as a dividend to stockholders, through a quarterly dividend, subject to satisfactory financial performance, approval by our Board of Directors and dividend restrictions in the New Media Credit Agreement. The Board of Directors’ determinations regarding dividends will depend on a variety of factors, including the Company’s GAAP net income, free cash flow generated from operations or other sources, liquidity position and potential alternative uses of cash, such as acquisitions, as well as economic conditions and expected future financial results. The key elements of our strategy include:

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Maintain Our Leading Position in the Delivery of Proprietary Local Content in Our Communities. We seek to maintain our position as a leading provider of unique local content in the markets we serve and to leverage this position to strengthen our relationships with both readers and local businesses, thereby increasing penetration rates and market share. A critical aspect of this approach is to continue to provide local content that is not readily obtainable elsewhere and to be able to deliver that content to our customers across multiple print and digital platforms.
Grow Our Digital Marketing and Business Services. We plan to continue to scale and expand our guided marketing and business solutions platform, UpCurve. We believe UpCurve will allow us to sell guided marketing and business solutions to SMBs both in and outside of existing New Media markets. The SMB demand for digital and business service solutions is great and represents a rapidly expanding opportunity. According to the U.S. Small Business Administration, in 2015 there were approximately 30.2 million SMBs in the U.S. and, according to a BIA Advisory Services, digital revenues are expected to grow to $59.6 billion in 2019. Owners of SMBs often lack the resources and expertise to navigate the digital marketing services sector, with 29% of SMBs not having a website, and 17% of SMBs with websites do not have a mobile-friendly website according to Clutch’s 2017 Small Business Survey. We believe local SMBs will turn to our trusted local media brands to help them navigate through developing their digital marketing presence and business strategy. We believe our local media properties and local sales infrastructure gives us a distinct advantage to being the leading local provider of digital marketing and business services.
Pursue Strategic Accretive Acquisitions. We intend to capitalize on the highly fragmented and distressed local print industries which have greatly reduced valuation levels. We continue to expect to focus our investments primarily in the local newspaper sector in small to mid-size markets. We believe we have a strong operational platform as well as scalable digital marketing and business services. This platform, along with our deep industry-specific knowledge and our experienced management team, can be leveraged to reduce costs, stabilize the core business and grow digital revenues at acquired properties. The size and fragmentation of the addressable print media market place in the United States, the greatly reduced valuation levels that exist in these industries, and our deep experience make this an attractive place for our initial consolidation focus and capital allocation. Over the longer term we also believe there may be opportunity to diversify and acquire these types of assets internationally, as well as other traditional local media assets such as broadcast TV, out of home advertising (billboards) and radio, in the United States and internationally. We also believe there may be opportunities to acquire other strong businesses that have strong local brands and local sales infrastructure or digital product companies, both of which could quickly scale our digital marketing and business services platform.
Stabilize Our Core Business Operations. We have four primary drivers in our strategic plans to stabilize our core business operations, including: (i) identifying permanent structural expense reductions in our traditional business cost infrastructure and re-deploying a portion of those costs toward future growth opportunities, primarily on the digital side of our business; (ii) accelerating the growth of both our digital audiences and revenues through improvements to current products, new product development, training, opportunistic changes in hiring to create an employee base with a more diversified skill set and sharing of best practices; (iii) accelerating our consumer revenue growth through subscription pricing increases, pay meters for digital content and growth in our overall subscriber base; and (iv) stabilizing our core print advertising revenues through improvements to pricing, packaging of products for customers that will produce the best results for them, and more technology and training for sales management and sales representatives.
New Media intends to focus its business strategy on building its digital marketing and business services and growing its online advertising business. With its improved capital structure and digital focus, combined with its strengths and strategy and dividend strategy, we believe that New Media will be able to grow stockholder value. However, there can be no assurance of this. See “Risk Factors” under Item 1A of this Annual Report on Form 10-K.
Challenges
As a publisher of locally-based print and online media, we face a number of challenges, including the risks that:
the growing shift within the publishing industry from traditional print media to digital forms of publication may compromise our ability to generate sufficient advertising revenues;
investments in growing our digital and business services may not be successful, which could adversely affect our results of operations;
our advertising and circulation revenues may decline if we are unable to compete effectively with other companies in the local media industry; and
we may not be able to successfully acquire local print media assets at attractive valuations due to a rise in valuations from a more competitive landscape of acquirers.

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For more information about New Media’s risks and challenges, see “Risk Factors” under Item 1A of this Annual Report on Form 10-K.
Products
Our traditional media product mix consists of four publication types: (i) daily newspapers, (ii) weekly newspapers, (iii) shoppers and (iv) niche and business publications. Most of these publications have a digital presence as discussed in the following table. Some of the key characteristics of each of these types of publications are also summarized in the table below:
 
 
 
Daily Newspapers
 
Weekly Newspapers
 
Shoppers
 
Niche and Business Publications
Cost:
 
Paid
 
Paid and free
 
Paid and free
 
Paid and free
 
 
 
 
 
Distribution:
 
Distributed four to seven days per week
 
Distributed one to three days per week
 
Distributed weekly
 
Distributed weekly, bi-weekly, monthly, quarterly or annual basis
 
 
 
 
 
Format:
 
Printed on newsprint, folded
 
Printed on newsprint, folded
 
Printed on newsprint, folded or booklet
 
Printed on newsprint or glossy, folded, booklet, magazine or book
 
 
 
 
 
Content:
 
50% editorial (local news and coverage of community events, some national headlines) and 50% ads (including classifieds)
 
50% editorial (local news and coverage of community events, some national headlines for smaller markets which cannot support a daily newspaper) and 50% ads (including classifieds)
 
Almost 100% ads, primarily classifieds, display and inserts
 
Niche content and targeted ads (e.g., city guides, tourism guides, directories, calendars and special interest publications focused on segments including real estate, cyber security, health care, legal and small businesses)
 
 
 
 
 
Income:
 
Revenue from advertisers, subscribers, rack/box sales
 
Paid: Revenue from advertising, subscribers, rack/box sales
 
Paid: Revenue from advertising, rack/box sales
 
Paid: Revenue from advertising, rack/box sales
 
 
 
 
 
 
 
 
 
Free: Advertising revenue only, provide 100% market coverage
 
Free: Advertising revenue only, provide 100% market coverage
 
Free: Advertising revenue only
 
 
 
 
 
Internet Availability:
 
Maintain locally oriented websites, mobile sites and mobile apps, for select locations
 
Major publications maintain locally oriented websites and mobile sites, for select locations
 
Major publications maintain locally oriented websites
 
Selectively available online
Overview of Operations
Our traditional media products operate in two publication groups: Newspapers and BridgeTower. We also operate over 581 related websites. The following circulation statistics are estimated by our management as of December 30, 2018.
The following table sets forth information regarding our publications:
 
Number of Publications
 
Circulation (1)
Operating Group
Dailies
 
Weeklies
 
Shoppers and Other
 
Paid
 
Free
 
Total
Circulation
Newspapers
146

 
323

 
132

 
1,845,503

 
4,608,394

 
6,453,897

BridgeTower
11

 
22

 
44

 
150,584

 
207,466

 
358,050

Total
157


345


176


1,996,087


4,815,860


6,811,947

 
(1)
Circulation statistics are estimated by our management as of December 30, 2018.
Newspapers. In the Northeast, a plethora of award-winning print and digital publications are published in Massachusetts, New Hampshire and Maine. This group is comprised of 12 daily newspapers, 115 weekly newspapers, five shoppers and over

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178 local and regional websites as well as direct mail, distribution and commercial printing operations. This publishing group operates in five key regions - New England Publishing Group, Cape Cod Media Group, SouthCoast Media Group, Seacoast Media Group and Worcester, Massachusetts.
New England Publishing Group includes six daily newspapers and a large concentration of weekly newspapers, serving 108 communities in markets across eastern Massachusetts. The three largest daily newspapers are: The Patriot Ledger, founded in 1837 with circulation of 13,063, The Enterprise, founded in 1880 with circulation of 7,130 and the MetroWest Daily News, founded in 1897 with circulation of 6,769. The New England Publishing Group has 165 websites, with more than 4.1 million combined monthly unique visitors.
Many of the towns within the New England Publishing Group footprint were founded in the 1600s and the daily and weekly newspapers in the region have long been institutions within these communities. The publications are within the Boston designated market area “DMA”, which is the ninth largest market in the United States with 2.6 million households and 6.6 million people and ranks first nationally in concentration of colleges and universities. The Boston DMA has a median income of over $85,000, 10% over the state-wide median income and 1.4 times more than the national median income.
Cape Cod Media Group’s flagship publication is the Cape Cod Times. The Cape Cod Times, with a daily circulation of 19,925 is the premier daily and Sunday local paper on Cape Cod. The Barnstable Patriot, the group’s one paid weekly newspaper, has a circulation of 1,323. The Cape Cod Times also has a successful website, capecodtimes.com, with over 3.9 million monthly page views and 859,000 monthly unique visitors. The Cape Cod Times newsroom was recently recognized by Editor & Publisher in its “10 Newspapers That Do It Right” feature for successfully balancing both tradition and innovation in its community journalism endeavors. The Cape Cod Times newspaper was also named a 2018 EPPY Awards finalist in four categories.
Southcoast Media Group publishes one paid newspaper, four weekly newspapers and two shoppers. The group’s daily newspaper, The Standard-Times, has a daily circulation of 9,617 and is the premier daily and Sunday local paper in the New Bedford, Massachusetts area. The paid weeklies, the Spectator, the Chronicle, the Middleboro Gazette and the Advocate, have weekly circulations of 1,946, 7,812, 1,599 and 275, respectively.
Seacoast Media Group publishes two daily and five weekly newspapers. The flagship publication of Seacoast Media Group is the Portsmouth Herald. The Portsmouth Herald, with a daily circulation of 6,202, is the premier daily and Sunday local paper in coastal New Hampshire. The Hampton Union and the Exeter News-Letter are weeklies with circulations of 1,312 and 1,505, respectively. The York County Coast Star and the York Weekly in southern Maine have weekly circulations of 1,947 and 1,189, respectively. In addition, the group publishes Foster’s Daily Democrat with circulation of 5,389. Seacoast Sunday is a regional Sunday newspaper for the entire market with circulation of 14,125 and is the second largest Sunday paper in New Hampshire. EDGERadio, a streaming local news and entertainment radio station is produced from the Portsmouth Herald.
In Worcester, Massachusetts, the Telegram & Gazette has been the premier daily newspaper in Central Massachusetts since 1866. Iconic in its journalistic excellence, the Telegram & Gazette was named “2018 Sunday Newspaper of the Year” by New England Newspaper & Press Association. The Telegram & Gazette, with daily circulation of 25,073 and its website, telegram.com, covers all of Worcester county, as well as surrounding areas including editorial coverage and distribution in over 60 towns, which represents over 20% of the towns in the state of Massachusetts and receives more than 8.6 million monthly page views. Coverage is in the primary market of Worcester County with secondary focus in Middlesex and Hampden counties. In addition, The Item, covering Clinton, Lancaster, Sterling, Bolton, Berlin and Boylston, was founded in July 1893, more than 120 years ago.
Also in Worcester, Holden Landmark publications include Worcester Magazine, The Landmark, baystateparent magazine, The Grafton News, The Millbury-Sutton Chronicle and the Leominster Champion.  All are published weekly except for baystateparent, which is a monthly publication. The publications are known for consistently producing award-winning community journalism as well as covering stories across the globe that impact the local community.
The Gardner News, with daily newspaper circulation of 3,027, serves seven cities and towns in northwest Worcester County, Massachusetts. In addition to the city of Gardner, where it is headquartered, it also covers the rural towns of Ashburnham, Hubbardston, Phillipston, Templeton, Westminster and Winchendon, Massachusetts. The Gardner News was founded in 1869 as a weekly newspaper and went to a daily format in 1897. This year The Gardner News will celebrate its 150th year of publishing.
In Providence, Rhode Island, the Pulitzer Prize winning publication The Providence Journal, publishes one paid daily newspaper and one shopper. The Providence Journal is the preeminent watch-dog newspaper in the state of Rhode Island and the oldest continuously-published daily newspaper in the United States. Its market includes all of Rhode Island as well as seven cities and towns in Bristol County, Massachusetts with a daily circulation of 47,313, with a 51% reach in print and online. In

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2018, The Providence Journal was awarded the First Amendment Award from the New England Newspaper & Press Association and The Metcalf Award for Diversity in the Media from Rhode Island for Community & Justice. Its website, providencejournal.com, offers an online source for award-winning journalism, sports, lifestyles, entertainment, editorials and more and has monthly page views of over 5.2 million and unique visitors over 1.3 million.
The Newport Media Group publishes the 171 year old The Newport Daily News with daily circulation of 5,393 along with a weekly publication and several magazine and tourism mastheads. Newport is home to the U.S. Navy War College and attracts over 3.5 million visitors annually.
The Nantucket Island Media Group publishes The Inquirer and Mirror and is the weekly newspaper of record for Nantucket Island. With a weekly circulation of 5,372, it has the largest circulation of any island newspaper and high quality Nantucket magazine with readership far beyond the island. The newspapers' website, ack.net, receives over 472,000 monthly page views.
The Bulletin in Norwich, Connecticut has a daily circulation of 6,560. This eastern Connecticut market differs from the nation and New England markedly, with primary economic drivers of casinos, military submarine manufacturing and pharmaceutical research. Major industrial employers in the region include General Dynamics, Pfizer, Dow Chemical, Dominion Resources and the United States Navy.
Central New York is anchored by the Observer-Dispatch in Utica, New York, which has circulation of 17,123 daily and 21,444 Sunday subscribers. In addition to the Observer-Dispatch, the Utica operation has another daily called the Times-Telegram with a daily circulation of 2,065 covering the towns of Herkimer and Little Falls. Along with the dailies are two weeklies; Mid-York Weekly in Hamilton and Scene which distributes to 37,568 households in Utica. Utica has websites with over 3.1 million combined monthly page views and also has the weekly shopper Your Valley, which distributes to 10,000 homes in Herkimer County.
Eleven publications are published in suburban Rochester that span four counties with a combined circulation of 99,606. This touristic market is known for boutique wineries and recreational activities. The flagship of the suburban Rochester group is the 5,779 circulation Daily Messenger in Canandaigua.
In southwestern New York, operations are centered around five publications based in Steuben County. In Corning, The Leader, a 3,626 circulation daily newspaper, dominates the eastern half of the county and shares its hometown namesake with Corning Incorporated. The Evening Tribune in Hornell circulates five days a week throughout the western half of the county. Situated directly between these two dailies in the county seat of Bath is the 11,130 circulation Steuben Courier, a free-distribution weekly. The Pennysaver Plus, a standalone shopper, solidifies this flagship group.
Three other New York counties that surround Steuben support the print advertising market. Publications in Allegany County to the west, the Wellsville Daily Reporter and its shopper, the Pennysaver Plus in Wellsville, cover most households. In Livingston County to the north, the Pennysaver Plus and the Genesee Country Express complement one another with combined circulation of 23,210. In Yates County to the north and east, The Chronicle-Express and Chronicle Ad-Visor shopper distribute weekly to nearly 12,925 households centered around the county seat of Penn Yan.
In nearby Chemung County, the 14,867 circulation Horseheads Shopper anchors our presence in this area. The majority of the southwestern New York cluster parallels Interstate 86 across the central southern tier of New York State, which benefits from continued improvement and expansion under an omnibus federal highway appropriations bill. The cluster has several colleges and universities nearby, including Cornell University, Ithaca College, Elmira College and Corning Community College.
In the Mid-Atlantic, the Hudson Valley Media Group publishes one daily, two free weekly newspapers and one shopper. The flagship publication of the Hudson Valley Media Group is the Times Herald-Record. With a daily circulation of 20,409, the Times Herald-Record is the premier daily newspaper serving Orange, Ulster and Sullivan counties in New York and Pike County, Pennsylvania. The newspaper’s successful website, recordonline.com, receives monthly page views of over 5.2 million and in 2018, the website received more than 71.5 million page views. The Hudson Valley Media group’s commercial print division publishes 120 weekly, bi-weekly and monthly publications. They are endorsed by both New York and New Jersey Newspaper Publisher Association groups. Hudson Valley Media also produces Orange Magazine, a perfect bound glossy magazine, as well as 845 Today and Living Here premium publications. The Times Herald-Record won eight awards in the 2017 New York State Associated Press Association contest.
The Pocono Mountains Media Group publishes one paid daily, one free weekly newspaper and one shopper. The flagship publication of the Pocono Mountains Media Group is the Pocono Record. The Pocono Record is the premier daily and Sunday local paper in the Pocono Mountains area, with 4,544 daily circulation and 6,989 Sunday circulation.

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In Delaware, the group publishes six weekly newspapers and various specialty papers that cover most of the state of Delaware and range from suburban Wilmington in the north to Central Sussex County at the southern end of the state. Circulation for the cluster is primarily free and totals approximately 36,770 weekly.
The Honesdale cluster, approximately 30 miles from Scranton, Pennsylvania, consists of six publications in the cities of Honesdale, Carbondale, Moscow and Hawley, Pennsylvania. The cluster was created from the daily and shopper operations in Honesdale and later supplemented by the acquisition of one bi-weekly and one shopper in Hawley as well as one weekly in Carbondale and another in Moscow.
The group in the Mid-Atlantic also includes newspaper and digital media properties located in the Philadelphia and Beaver County, Pennsylvania markets. The Philadelphia cluster includes the Bucks County Courier Times, with daily circulation of 15,299, The Intelligencer, with daily circulation of 11,858 and the Burlington County Times in New Jersey, with daily circulation of 10,272. Print and online penetration for this Philadelphia media cluster reaches 41% of the markets they serve. In 2018, the Bucks County Courier Times won the overall General Excellence Award in the Pennsylvania Newspaper of the Year Awards for publications with circulation between 20,000 - 39,999 and finished in second place statewide in the overall contest. The Burlington County Times won the state's General Excellence Award for circulation under 23,000 for the seventh consecutive year in the New Jersey Press Association.
The Beaver County, Pennsylvania newspapers consist of the Beaver County Times and the Elwood City Ledger, with combined daily circulation of 13,097. These two media properties are the primary news source by reaching 55% of the market with their print and digital products. In 2018, the Beaver County Times won top honors in its division of the Pennsylvania NewsMedia Association’s ("PNA")Keystone Press Awards for the third consecutive year. In the fall of 2018, PNA announced that the Beaver County Times won first place in its division for Best Use of Video for its 13-part series, “Notorious Beaver County,” on the county’s only known serial killer.
Pennsylvania and West Virginia operate a cluster of dailies in Erie and Waynesboro, Pennsylvania and Keyser, West Virginia plus two weeklies in Ripley, West Virginia, one weekly in Greencastle, Pennsylvania and one shopper in Keyser, West Virginia. The Erie Times-News in Erie, Pennsylvania has circulation of 29,557 daily and 38,248 Sunday. The Erie Times-News operates one daily newspaper covering Erie, Crawford and Warren counties and operates goerie.com, which has over 583,000 million unique visitors a month and over 3.4 million page views.
In Petersburg, Virginia the daily publication is The Progress-Index, with daily circulation of 4,950, which covers the three cities of Petersburg, Colonial Heights and Hopewell, along with the counties of Chesterfield, Dinwiddie and Prince George. In addition to the daily newspaper and its website The Progress-Index also publishes the Herald-Post, a twice-weekly paid newspaper, The Fort Lee Traveller, a free weekly military newspaper, Mid-Virginia Trader, a paid weekly classified shopper and Virginia Wheels, a free bi-weekly auto magazine.
The North Carolina cluster publishes eleven daily newspapers, seven weekly newspapers and three shoppers. North Carolina newspapers earned a total of 107 North Carolina Press Association journalism awards including five General Excellence honors. In western North Carolina, the Times-News in Hendersonville has daily circulation of 6,217. The Piedmont newspapers include The Star in Shelby, with daily circulation of 4,378, and The Gaston Gazette in Gastonia, with daily circulation of 9,883. Central North Carolina newspapers include The Dispatch in Lexington, publishing six days per week with daily circulation of 4,032, Times-News in Burlington, with daily circulation of 9,387, The Courier Tribune in Asheboro, publishing six days per week with daily circulation of 5,789, The Fayetteville Observer in Fayetteville, with daily circulation of 19,427, as well as three weekly publications and two shoppers with combined circulation of 69,882 and 82,596, respectively. Coastal publications in North Carolina include The Free Press in Kinston, with daily circulation of 4,002, Sun Journal in New Bern, with daily circulation of 7,560, The Daily News in Jacksonville, with daily circulation of 7,550 and Star News in Wilmington, with daily circulation of 20,088. The Star News was named a 2018 “10 Newspapers That Do It Right” by Editor & Publisher.
In South Carolina, the Spartanburg Herald-Journal has a daily circulation of 13,739. Spartanburg is the largest city and the county seat of Spartanburg County. The Herald-Journal’s primary distribution area is Spartanburg and Union counties. In 2018 the Spartanburg Herald-Journal was honored with 35 awards in the annual South Carolina Press Association contest, including nine first-place awards which included awards for General Excellence, Breaking News and In-Depth News categories. The newspaper’s website, goupstate.com won second place in the Best Newspaper Website category.
Bluffton Today, a twice weekly free newspaper and blufftontoday.com serve the residents of one of the fastest growing communities in South Carolina. Situated adjacent to Hilton Head Island, Bluffton Today, with a weekly circulation of 11,600, was founded in 2005. The Sun Today, an edition of Bluffton Today, serves the highly sought readers of Sun City Hilton Head and is delivered to 6,900 households every Wednesday. The Jasper County Sun-Times, a weekly with a circulation of more than 4,900, is delivered free to residents of Jasper County, South Carolina on Wednesdays.

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In Georgia, The Augusta Chronicle, founded in 1785, is the oldest daily newspaper in the South. The Augusta Chronicle, with 17,238 daily circulation and 19,351 Sunday circulation, has extensive coverage of the elite the Masters® Golf Tournament and leverages its website augusta.com throughout the event. The Chronicle earned 13 Georgia Press Association awards in 2017. The market is unique by its diversity of industries, including being recently named the national cyber defense center for the United States, a development that will bring an influx of highly-educated people.
The Savannah Morning News in Georgia, with 16,959 daily circulation and 19,284 Sunday circulation, along with savannahnow.com earned more than 40 Georgia Press Association awards, of which 14 were first-place awards for advertising. The Morning News has evolved into a multi-platform media company with multiple weekly and monthly publications along with a strong stable of events and digital solutions. Its website attracts over 5.2 million page views and 559,000 unique visitors each month.
The Athens Banner-Herald, founded in 1832, can trace its roots back as one of Georgia's oldest newspapers. Athens is home to the University of Georgia and the Georgia Bulldogs. The Banner-Herald boasts a long tradition of award-winning news and sports coverage including winning the GPA General Excellence award multiple times in the past decade. The Banner-Herald has a daily circulation of 5,393 and 7,896 on Sundays. The newspaper's website, onlineathens.com, has nearly 453,000 unique visitors monthly resulting in more than 3.1 million page views each month.
In Florida, a cluster of 13 daily newspapers and numerous weekly newspapers and shoppers are published. On the West Coast of Florida serving Sarasota and Manatee counties is the two-time Pulitzer Prize winning Herald-Tribune with Sunday circulation of 52,148, which operates a family of digital products anchored by the successful heraldtribune.com website that receives monthly page views of over 4.5 million and unique visitors of over 1.0 million. In 2018, “One War. Two Races” was recognized with SPJ’s Sigma Delta Chi Award in investigative reporting, Green Eyeshade award for best journalism in the Southeast United States and was a finalist for the Hillman Prize, among others. The Herald-Tribune newsroom won dozens of other awards. In 2018, the newspaper also won two EPPY Awards from Editor & Publisher and, for the fourth year in a row, was honorably mentioned as one of the year’s “10 Newspapers That Do It Right.
In Central Florida is the two-time Pulitzer Prize winning daily publication, The Gainesville Sun, with Sunday circulation of 17,207, monthly page views of 5.1 million and 603,414 monthly unique users. The Gainesville Sun received 11 state journalism awards in 2018. The Gainesville Sun also produces gatorsports.com, the University of Florida athletics free website which has over 1.8 million monthly page views and 245,448 monthly unique users. To the south of Gainesville in the middle of Marion County is the daily publication, Ocala Star Banner, with daily circulation of 14,626. The Ocala Star Banner also publishes a successful website ocala.com which receives monthly page views of over 6.6 million and monthly unique visitors of over 695,831. The Ocala Star Banner won 6 state awards for journalism in 2018.
Also in Central Florida, the Leesburg publication, the Daily Commercial, with its Sunday circulation of 8,513, monthly page views of over 858,000 and 184,000 unique visitors, covers a region known for seaplanes, upscale retirement living and rural small towns. Located in an area contiguous to Orlando, the Daily Commercial also publishes a weekly newspaper, South Lake Press and its website dailycommercial.com.
The Ledger in Lakeland has Sunday circulation of 27,163 and operates a robust commercial print operation generating millions of dollars a year printing such titles as the Orlando Sentinel, New York Times, Wall Street Journal and USA TODAY. The Ledger’s website, theledger.com, receives over 8.4 million monthly page views and over 981,000 monthly unique visitors. The Ledger is a proud member of Newspapers in Education for all public and charter schools throughout Polk County. The Ledger serves the third largest county in the State of Florida.
The Florida Times-Union in Jacksonville has a Sunday circulation of 46,988 and publishes in two of the fastest growing counties in Florida, St. Johns County and Duval County. Its website jacksonville.com, has more than 5.8 million page views per month and 901,000 unique visitors monthly. The Florida Chapter of the Society of Professional Journalists and the Florida Society of News Editors bestowed The Florida Times-Union with 17 awards in 2018. The “Walking While Black” series won numerous national awards including the Columbia Journalism School’s Paul Tobenkin Memorial Award.
South of Jacksonville is the St. Augustine Record, which publishes in fast-growing St. Johns County. The Record has a Sunday circulation of 9,908, operates the website staugustine.com and receives monthly page views of over 1.0 million and over 290,000 monthly unique visitors.
Daytona Beach’s daily publication, The Daytona Beach News-Journal serves Volusia and Flagler counties with a Sunday circulation of 46,173. The Daytona Beach News-Journal publishes four shoppers with a total combined circulation of 176,468 and operates a successful website news-journalonline.com that receives monthly page views of over 6.7 million and over 975,000 monthly unique visitors. In 2018 The Daytona Beach News-Journal won nine first place and 25 total awards by the Florida Press Club’s Excellence in journalism competitions.

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Two east coast publications were acquired in 2018 in Palm Beach County: The Palm Beach Post and the Palm Beach Daily News. The Palm Beach Post has been the dominant news source for Palm Beach County and southern Martin County for 103 years. The Palm Beach Post has Sunday circulation of 80,227 and its related website palmbeachpost.com receives monthly page views of over 14,862,187 and over 1,973,468 monthly unique visitors. In 2018 The Palm Beach Post won Investigative Reporters and Editors Awards, Green Eyeshade Awards, Anthony Shadid Award for Journalism Ethics and the Association of Health Care Journalists. The Palm Beach Daily News has covered one of America's wealthiest communities, the island of Palm Beach, for 121 years, having been founded to serve the titans of the Gilded Age, who made Palm Beach the nation’s premier winter-resort destination. The Palm Beach Daily News, more commonly known as the “Shiny Sheet’’ because of its high-grade paper stock, covers the exclusive and luxurious island of Palm Beach, home of President Donald Trump’s Mar-a-Lago resort and where the median income is $34 million. The Shiny Sheet is printed daily from October to May and twice weekly during the summer. It also has a related website, palmbeachdailynews.com, which receives monthly page views of over 1.3 million and over 205,000 monthly unique visitors.
In the northwest Florida Panhandle, publications include two dailies and eight weeklies across a ten-county area stretching from Franklin in the east to Santa Rosa in the west and north to the state line. The daily in the east, the Panama City News Herald, has a Sunday circulation of 10,468 and operates the website newsherald.com, which receives over 2.8 million monthly page views and over 494,000 monthly unique visitors. To the west in Fort Walton Beach, the Northwest Florida Daily News, has a Sunday circulation of 14,376 and operates the website nwfdailynews.com, which receives monthly page views of over 7.3 million and 739,000 monthly unique visitors. The Northwest Florida Daily News also operates the successful and growing destination websites destin.com and emeraldcoast.com.
In Tennessee, The Columbia Daily Herald in Columbia has a daily circulation of 6,933 and publishes six days a week (Sunday through Friday). The Columbia Daily Herald earned eleven Tennessee Press Association awards in 2018 including a first place award for Best News Reporting for the Elizabeth Thomas kidnapping case. The Columbia Daily Herald serves Maury County, Tennessee and the surrounding Middle Tennessee region and also publishes one weekly newspaper and one shopper. The Oak Ridger in Oak Ridge, Tennessee has a daily circulation of 2,481 and serves Anderson County, Tennessee.
In Alabama, the two-time Pulitzer Prize-winning daily publication, The Tuscaloosa News, has Sunday circulation of 14,208 and a successful website, tuscaloosanews.com, that averages 3.7 million page views and 1,067,433 unique users per month. The Tuscaloosa News also publishes tidesports.com, a website focusing on University of Alabama athletics. In 2018, The Tuscaloosa News won first place for general excellence and 34 awards overall in the Alabama Press Association newspaper contest and 33 awards in the Alabama Associated Press Media Editors newspaper contest. The Tuscaloosa News also won the Grand Slam--top 10 in daily sections, special sections, Sunday sections and website--in the Associated Press Sports Editors contest. With Sunday circulation of 7,384, The Gadsden Times is the oldest continually operating business in Etowah County, with monthly page views over 2.7 million and 184,000 monthly unique visitors.
The Illinois Publishing group, with major daily newspapers in Rockford, Peoria and the state capital of Springfield, is the largest publishing company in Illinois. Its 14 paid daily newspapers, 14 paid weekly newspapers and 16 shoppers provide coverage across the state, which is supported by four print production facilities.
In Louisiana, the operating cluster in the southwestern part of the state is located between Lake Charles and Alexandria. This cluster consists of two publications, Leesville Daily Leader and Beauregard Daily News. Local employers include major manufacturers such as Alcoa, Firestone, International Paper and Proctor & Gamble and the army post, Fort Sill. The Baton Rouge cluster in southeastern Louisiana consists of two dailies, the Houma Courier and the Thibodaux Daily Comet, four weeklies in Donaldsonville, Gonzales and Plaquemine and three shoppers. Numerous petrochemical companies such as BASF, Exxon Mobil and Dow Chemical, plus universities including Louisiana State, support the local economies. In Northeast Louisiana we have the Bastrop Daily Enterprise. Bastrop is managed by the Arkansas operations as it sits right on the border of Louisiana, Mississippi and Arkansas.
In Fort Smith, Arkansas the Southwest Times-Record has been a primary news source in northwest Arkansas for over a century with a daily circulation of 13,297. The Southwest Times Record digital platform extends the newspaper’s reach to consumers nationwide through its website swtimes.com with monthly page views of over 914,000. The Southwest Times Record also publishes six weekly newspapers and a shopper and principally serves Sebastian and Crawford counties in Arkansas and Le Flore and Sequoyah counties in Oklahoma with the largest metropolitan area served being Fort Smith, Arkansas. In Southeast Arkansas is our award-winning newspaper The Pine Bluff Commercial, which serves as the primary source of news in central and southeast Arkansas with daily circulation of 4,487. The Pine Bluff Commercial also reaches its readers through a successful website, pbcommercial.com which has monthly page views of over 325,000. The Log Cabin Democrat serves the vibrant community of Conway, Arkansas and the surrounding area.

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In Oklahoma, The Oklahoman daily newspaper was acquired in 2018. With a circulation of 106,905 on Sunday and average daily circulation of 100,655, The Oklahoman is the state’s leading news organization. It has two websites, newsok.com and oklahoman.com. Unique visitors top 2.5 million monthly. The Oklahoman also operates a digital marketing services company, BigWing and a full service direct mail company, Oklahoman Direct. Located in the state Capitol of Oklahoma City, the newsroom covers state government and agencies with their full suite of news products including print, web, video and podcasts. In 2018 The Oklahoman won numerous awards including the Great Plains Journalism Awards Contest, Best Website Design, Best Sports Blog and Sports Column; best in Sports Action Photography and Spot News Photography. The Oklahoman Sports department was a “triple crown” winner at the annual Associated Press Sports Editors Awards. Four magazines, The OK, are published throughout the year along with a Readers’ Choice awards publication.
To the west in Oklahoma, is the Examiner-Enterprise in Bartlesville, which is one of the state’s largest daily newspaper with circulation of 4,152. The Examiner-Enterprise is an award-winning publication with awards including Oklahoma Press Association recognition for website, editorials, photography and news coverage. The Examiner-Enterprise also publishes one weekly newspaper and one shopper. Having once been home to Phillips Petroleum Company, the town tourism offers a yearly OK Mozart festival featuring classical, jazz, light opera as well as tours of the old Phillips home, including a wildlife preserve. Located outside Oklahoma City The Shawnee News-Star with a circulation of 5,263 is known for having one of the best editorial pages in the state as they have won numerous Oklahoma Press Association awards in 2018.
The Daily Ardmoreite, Oklahoma is located in southern part of the state north of the Texas border, in Ardmore, Oklahoma with a circulation of 3,804. The market is home to a 1,900 employee Michelin plant and boasts a strong oil and gas economy that serves as a region for shopping hubs as the town sits directly in the middle between Dallas and Oklahoma City.
Texas is served with 35 publications (five daily, 17 weekly newspapers and 13 shoppers). The group consists of three distinct operations, including The Lubbock Avalanche and Amarillo Daily News and associated publications, a collection of small-market dailies and companion publications in central Texas. A well-established shopper group serving the growing cities of the Rio Grande Valley in south Texas is also published.
Acquired in 2018, the Austin American-Statesman is centered in Austin and is the top newspaper company in Central Texas, spanning 19 counties, with brands such as the Austin American-Statesman, statesman.com, austin360.com and hookem.com. Austin is the fourth largest population center in Texas and 11th in the U.S. The Austin American-Statesman has a Sunday circulation of over 88,527 and combined web audience that garner more than 18.9 million page views and 2,004,610 unique visitors each month. In 2018, the Austin American-Statesman won an International News Media Association award for Best Idea to Encourage Print Readership or Engagement, won four Lone Star Emmy Awards for videography, was a finalist for General Excellence in the national Online News Association contest, won the Spirit of FOI Award from the Freedom of Information Foundation of Texas and won 23 other statewide awards from Texas Associated Press Managing Editors. The Austin American-Statesman also publishes six weekly newspapers and a shopper. In addition, the Austin American-Statesman operates an award-winning, full service advertising agency - Statesman Studio.
The Herald Democrat, also in Texas, principally serves Grayson County, with the largest metropolitan area served located in Sherman, Texas and has a daily circulation of 9,357. Home to Lake Texoma, this area attracts many outdoor lifestyles and receives over 6 million visitors a year. The Herald Democrat has a growing digital platform with the website heralddemocrat.com which extends the newspaper’s reach to consumers nationwide with monthly page views of over 374,000. The Herald Democrat also publishes three weekly newspapers and two shoppers.
In the Mid-West in Columbus, Ohio, the flagship brand is The Columbus Dispatch with a daily circulation of 84,419 and a Sunday circulation of 120,419.  Other affiliates of Dispatch Media Group include ThisWeek Community Newspapers (a group of 21 weekly community publications) with a weekly distribution of 384,728, Columbus Parent, alive!, ThriveHive/DMG (with more than 21 Central Ohio websites), Columbus Monthly, Columbus CEO, On Target Marketing/TheBAG, and 11 other specialty magazine publications. Through print and digital operations, this group has a paid and free circulation of over 1.2 million in central Ohio and its websites averaged over 10 million page views per month. In 2018, The Columbus Dispatch and The Canton Repository earned first place in the General Excellence category by the Ohio Associated Press Media Editors Association’s annual conference. The (Massillon) Independent earned second place in the General Excellence category for its division.
An additional group of publications primarily in northeast Ohio cover Summit, Stark, Wayne, Portage, Tuscarawas, Holmes, Guernsey and Ashland counties comprising of nine daily newspapers, 14 weekly publications and a collection of monthly, quarterly and annual magazines. The largest of the group, the Akron Beacon Journal, with a daily circulation of 53,936 and Sunday circulation of 65,092, covers Akron, Summit County and some adjoining areas. Beacon Journal and its website, ohio.com, were acquired in 2018. The second largest daily in the group is the Repository in Canton, a 26,824 daily and 37,854 Sunday newspaper that covers the entirety of Stark County. The Massillon Independent is a 4,734 circulation daily that

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circulates in western Stark County. Covering eastern Stark County is the 4,822 circulation daily, The Alliance Review. The Dover New Philadelphia Times Reporter is a 9,719 daily publication located 40 miles south of Canton in Tuscarawas County. Thirty miles south of Dover is The Daily Jeffersonian, a 4,227 circulation daily located in Cambridge, Ohio, serving Guernsey County. West of Canton, The Daily-Record is a 13,157 circulation daily operating out of Wooster, Ohio, in Wayne County. Covering Ashland County and located in Ashland, Ohio, is the 5,936 circulation daily, The Times-Gazette. The Record-Courier a daily with 9,651 circulation located in Kent, Ohio covering Portage County near Akron. The Suburbanite is a 30,000 weekly publication that circulates in the affluent northern Stark county and southern Summit county area. Rounding out The Suburbanite family is the North Canton Suburbanite and Jackson Suburbanite, weeklies with circulation of 16,500 and 12,500 respectively. Operating out of Kent, Ohio are seven weekly publications, Aurora Advocate, Falls News Press, Stow Sentry, The News Leader, Hudson Hub Times, Twinsburg Bulletin and Talmadge Express, distributing in Portage and Summit counties with a distribution of 82,000. About Magazine is the flagship of a robust magazine division that publishes several monthly, quarterly and annual publications. About Magazine is a lifestyle publication which reaches 35,000 households monthly. The Canton, Ohio, facility also provides commercial print services to the New York Times and several regional publications. Wooster and Dover also have a printing facility with commercial work generating a combined $2.0 million in annual sales. The group in Ohio has very successful websites with 18.0 million combined monthly page views and more than 4.0 million monthly unique visitors. Together, the newspapers and websites dominate their local markets.
Approximately 85 miles to the west of Chicago, Illinois, is the Rockford Register Star, supported by its 18,356 daily and 24,434 Sunday paid circulation base and its TMC product The Weekly that mails over 125,000 copies. The Rockford Register Star operates a successful website, rrstar.com, which receives monthly page views of over 2.7 million.
The Journal (Freeport, IL) Standard is published Tuesday through Sunday. The newspaper’s coverage area includes Carroll, Jo Daviess, Ogle and Stephenson counties. The newspaper has a daily circulation of 4,140 and Sunday of 4,893. The Journal Standard also publishes a website journalstandard.com which receives monthly page views of over 618,000 and monthly unique visitors over 98,000.
The Peoria Journal Star with its paid daily circulation of 31,186 is the leading newspaper in Peoria, Tazewell and Woodford counties and is also distributed in an additional 17 surrounding counties. There are two shoppers, The Marketplace and Pekin Extra, which have a combined weekly circulation of 103,984. The Peoria facility provides print services to our neighboring GateHouse Media publications and commercial printing for Lee Enterprises’ The Pantagraph and The News Gazette in Champaign, Illinois. The market includes manufacturing facilities for Caterpillar and Komatsu and higher education at Bradley University, Illinois Central College and Midstate College. Peoria has a large medical community including OSF Healthcare, UnityPoint Health - Methodist, UnityPoint Health - Proctor, University of Illinois College of Medicine, Children’s Hospital of Illinois and St. Jude Children’s Hospital Midwest Affiliate. The Journal Star website is pjstar.com, with monthly page views of over 4.5 million and monthly unique visitors over 856,000.
Numerous other publications in smaller communities are operated in Western Illinois and Southern Illinois including 39 print publications and more than 20 websites. Total households reached each week by the print publications are over 185,000.
The Springfield State Journal-Register with a paid daily circulation of 18,590 and paid Sunday circulation of 23,925 covers the state capital of Illinois. The paid daily circulation includes a branded edition of 1,201 of the Lincoln Courier. The State Journal-Register also has successful websites with monthly unique visitors of more than 708,000 and page views of more than 3.9 million. In addition to being the state capital, Springfield is home to multi-national companies such as Bunn, Brandt and LRS. The University of Illinois - Springfield is one of three campuses for the University of Illinois. The core market includes a population of over 240,000 and the average household income is $71,400.
Southern Michigan is a core market area where seven dailies in Adrian, Monroe, Coldwater, Holland, Hillsdale, Ionia and Sturgis, along with one weekly and seven shoppers blanket this tier of the state. The 7,078 daily and 13,708 Sunday circulation Holland Sentinel is the flagship publication of the group. This western area on the shores of Lake Michigan has several large employers, including Delphi, ConAgra, Tecumseh Products, Kellogg, JCI, Herman Miller, Hayworth, Gentex, Jackson State Prison and a number of colleges and universities. The Monroe News, on Lake Erie, boasts a 13,340 Sunday circulation and publishes 12,685 daily copies.  Monroe is the headquarters for La-Z-Boy, Monroe Shocks and Tenneco Corporation.  The Michigan Group also publishes several magazines, including Shoreline Magazine with 10,000 circulation, Envision Magazine with circulation of 11,000, West Michigan Senior Times with 26,000 and Monroe Magazine with 9,000 circulation.
Covering the northeast region of both the lower peninsula and the upper peninsula of Michigan are two dailies, the Cheboygan Daily Tribune and the Sault Ste. Marie Sault News along with two weekly shoppers. This area has several large employers such as Carmeuse Corporation, Lake Superior State University, North Central Michigan Community College, Kewadin Casino, McLaren Medical, Mackinac Straits Hospital, Great Lakes Tissue Company, along with multiple Tourism

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Bureaus and a Chamber of Commerce. Cheboygan's Shoppers Fair and the Soo's Buyer's Guide saturates the market with over 27,000 readers.  The upper peninsula group also publishes The Mackinac Journal, which is a monthly 5,000 count publication and is distributed throughout all of northern Michigan and the eastern Upper Peninsula.
In Missouri, the greatest concentration of circulation and market presence is in the northern part of the state. Two daily newspapers and nine newspapers published from three to six days per week, four weekly newspapers and seven shoppers serve the 22,000 square mile area from Hannibal, on the state’s eastern border, to the western border and from Columbia in the south to the Iowa border in the north. Local employers include the University of Missouri and other colleges, local and federal governments, State Farm Insurance and 3M.
Operating in the county seat of Boone County, the Columbia Tribune and two shoppers strengthen the market presence in Missouri. Columbia, Missouri, has an estimated population of 121,717 as of 2017 and has three local colleges, University of Missouri, Stephens College and Columbia College. In 2018, the Columbia Tribune was recognized with several Missouri Press Association awards with first place in Best Headline Writing, Best Coverage of Government, Best Story about Rural Life, Best Sports Columnist and Photography and second place in Best Sports Page.
Southern Missouri operations are clustered around Lake of the Ozarks, which is served by the Camdenton Lake Sun. With one of the largest lakes in the state, the area boasts over 70,000 vacation homes and receives over 3,000 boats on the lake during Fourth of July weekend alone. Located midway between Kansas City and St. Louis and approximately 90 miles from Springfield, Missouri, operations include three daily newspapers, seven weekly newspapers and four shoppers reaching approximately 105,000 people in the Lake of the Ozarks area.
The Joplin cluster in Southwest Missouri has two weekly newspapers and one shopper serving a population of approximately 170,000. There are several colleges and universities in the area, a National Guard Fort, several large medical centers and a diverse mix of retail businesses, including the 110-store Northpark Mall. The group is also affiliated with three weeklies just across the border of Oklahoma. The daily newspaper in Independence, Missouri, The Examiner, is published five days a week and serves one of Kansas City’s suburbs.
The Kansas City cluster in northeast Kansas anchored by the Topeka Capitol Journal with a daily circulation of 19,735, provides rich state government and popular university sports coverage. The Topeka Capitol Journal also has a very successful website, cjonline.com, with monthly unique visitors over 652,000 resulting in over 4.7 million monthly page views. The newspaper won 59 total press association awards for Editorial and Advertising Sweepstakes competing against the state’s largest newspapers with first place awards for news and writing excellence and Photographer of the Year in 2018.
The Leavenworth Times and the military publication, The Fort Leavenworth Lamp, in Fort Leavenworth serve those communities. The Kansas City cluster is home to several companies, including Hallmark, H&R Block, Sprint, Cerner, Garmin and the University of Kansas. In 2018, The Leavenworth newspapers won 11 press association awards with First place in Best Story and Best Environmental Portrait.
The Wichita cluster consists of six dailies, five weeklies and seven shoppers including the Hutchinson News, the Salina Journal, the Garden City Telegram, the Hays Daily News and the Ottawa Herald. All publish daily except the Ottawa paper, which publishes three days a week. Together, the Wichita cluster reaches over 130,000 people. The area is home to many points of interest, including Salt Mines and the Kansas Cosmosphere and Space Center which houses the Apollo 13 command module and numerous rockets. In 2018, the Kansas Press Association awarded The Garden City Telegram 12 first place awards, Hays Daily News won 27 first place awards and Hutchinson News won 13 awards with 9 first place.
In Colorado, The Pueblo Chieftain is Colorado's oldest daily newspaper, in its 150th year. It has dominated the local news market since being founded before Colorado became a state and continues to do so today. The newspaper has been recognized for its journalism, earning more than 60 awards in statewide and regional competition in 2018. No other daily newspapers have established a foothold in the Pueblo market. La Junta is a small city with an agricultural base where we publish La Junta Tribune-Democrat, a daily newspaper and two weeklies as well as an agricultural publication that is distributed in 6 states.
Operations also include a cluster near Grand Forks, North Dakota (home to the Grand Forks Air Force Base and the University of North Dakota) and Iowa, where Cargill, ConAgra, Kraft, Winnebago and Fort Dodge Animal Health, a division of Wyeth, each maintain significant operations.
Two clusters of papers in Minnesota and North Dakota cover over 34 counties in the two states. In the north, Devils Lake Journal is home to the Grand Forks Air Force Base and the University of North Dakota. In Crookston, Minnesota, Crookston Daily Times is located an hour east of Grand Forks. Southwestern Minnesota publications include seven paid weekly

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newspapers and three shoppers. St. James, Redwood Falls, Sleepy Eye, Granite Falls, Cottonwood, Wabasso and Montevideo are all communities with populations of 10,000 and under.
The Ames Tribune is Central Iowa’s Pulitzer Prize-winning newspaper, with a daily circulation of 5,463. The Ames Tribune’s digital platform allows customers, both local and nationwide, to access content through its market-leading website, amestrib.com with over 600,000 monthly page views. Ames Tribune also publishes five weekly newspapers and four shoppers. The area’s top employer is the Iowa State University, with leading agriculture, design, engineering and veterinary colleges. The Hawkeye in Burlington, Iowa sits on the Illinois border and is rated one of the top 10 up-and-coming markets in the U.S. by multiple national publications. In 2018, Ames Tribune won 1st place Editorial Writing, 3rd Place Best Sports Section and 3rd place Best Sports Feature, 2nd place Best Government and Politics coverage and 2nd place Best Website and Best News story by the State Association
In the West, the California publications are clustered in three areas, Northern California, Stockton and the High Desert near Las Vegas. In the northern area, operations include three paid weekly papers in Siskiyou County. Mt Shasta, a 14,000 foot volcano, splits the county into north and south. In north county, we publish the Siskiyou Daily News and south of Mt Shasta, we publish weeklies in Dunsmuir, Mt. Shasta, and Weed. The Mt. Shasta economy is mainly supported by tourism, recreation and spiritualism. There are a small handful of monthly niche publications that compete with the newspapers in these markets. In the heart of California’s central valley, in Stockton, the flagship publication, The Record, one paid daily, one free weekly paper and two shoppers are published. The Record, with a daily circulation of 12,373 is the premier daily and Sunday local paper, winning 20 awards in 2017 from the California Newspaper Publishers Association.
In the High Desert, publications in Victorville and Ridgecrest, as well as Taft, California are published. The High Desert Media Group, which includes the Victorville Daily Press and its four weekly sister publications, is based in Victorville, California, one of the largest cities in the southern Mojave Desert. The Daily Press, now in its 81st year of publication, has won numerous California Newspaper Publishers Association awards over the years, including four in 2018 while also being named a finalist in the investigative reporting category.
A few hours north of the northern California properties, The Register-Guard is the leading local news source in an exceptional Pacific Northwest market. Located at the southern tip of Oregon’s lush Willamette Valley, Eugene is home to the 24,000-student University of Oregon. The company’s products include the only seven-day home delivery newspaper in Oregon and a companion website with more than 405,000 unique users and 1.7 million page views per month. The flagship Register-Guard newspaper is published daily, with average circulation of 36,686. The newspaper faces very limited print competition in its highly-educated market.
The following table sets forth information regarding the number of publications and production facilities in our Newspaper group:

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Publications
 
Production
Facilities
State of Operations
Dailies
 
Weeklies
 
Shoppers
 
 
Alabama
2

 
1

 

 
1

Arkansas
4

 
15

 
2

 
1

California
4

 
8

 
5

 
1

Colorado
2

 
5

 

 
1

Connecticut
1

 

 
1

 

Delaware

 
5

 

 

Florida
13

 
12

 
6

 
6

Georgia
3

 
8

 
6

 
1

Illinois
14

 
20

 
16

 
4

Iowa
3

 
6

 
5

 
1

Kansas
10

 
10

 
12

 
2

Louisiana
3

 
6

 
4

 
1

Maine

 
2

 

 

Massachusetts
10

 
110

 
5

 
1

Michigan
9

 
1

 
11

 
3

Minnesota
1

 
7

 
4

 

Missouri
10

 
11

 
10

 
2

Nebraska

 
2

 
1

 

New Hampshire
2

 
3

 

 
2

New Jersey
1

 

 

 

New York
6

 
13

 
10

 
3

North Carolina
11

 
7

 
3

 
2

North Dakota
1

 

 
1

 
1

Ohio
10

 
37

 
8

 
4

Oklahoma
5

 
3

 
3

 
3

Oregon
1

 
2

 

 

Pennsylvania
8

 
5

 
3

 
1

Rhode Island
2

 

 
1

 
1

South Carolina
1

 
4

 

 

Tennessee
2

 
1

 
1

 

Texas
5

 
17

 
13

 
3

Virginia
1

 

 

 
1

West Virginia
1

 
2

 
1

 

Total
146


323


132


46


BridgeTower. BridgeTower is comprised of local, regional and national business-oriented publications, websites, databases, live events, virtual events, thought leadership programs and research, operating in four main clusters: the (1) Business Group, (2) Legal Group, (3) Best Companies Group and (4) Home Furnishings Division. BridgeTower serves over 358,000 engaged subscribers and reaches more than 1.5 million readers across its publications and e-newsletters.
Business Group. We are one of the leading owners of business journals in the U.S., producing several daily, weekly, biweekly and monthly publications, as well as data products, webinars and live events. Anchored by an experienced team of award-winning journalists, the business brands provide relevant, actionable news and analysis for the business, construction, retail and real estate communities in more than 11 markets across the nation. In addition to digital and print advertising, the Business Group earns a sizable portion of revenue from paid subscription products, live events and thought leadership programs.
Regionally, the Business Group spans the entire country, reaching as far west as Portland, Oregon; New Orleans, Louisiana, in the South; and Long Island, New York, in the Northeast. Specifically, this group includes the following publications: The Journal Record (Oklahoma City, Oklahoma); City Business (New Orleans, Louisiana); Daily Journal of

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Commerce (New Orleans, Louisiana); Idaho Business Review (Boise, Idaho); Long Island Business News (Ronkonkoma, New York); The Daily Reporter (Milwaukee, Wisconsin); NJBiz (Somerset, New Jersey); Pet Age (Somerset, New Jersey); Finance & Commerce (Minneapolis, Minnesota); Lehigh Valley Business (Allentown, Pennsylvania); Central Penn Business Journal (Harrisburg, Pennsylvania); Central Penn Parent (Harrisburg, Pennsylvania), Rochester Business Journal (Rochester, New York); and Daily Journal of Commerce (Portland, Oregon); Charleston Regional Business Journal (Charleston, South Carolina); Columbia Regional Business Report (Columbia, South Carolina); and GSA Business Report (Greenville, South Carolina).
Legal Group. We are one of the leading operators of regionally-focused legal publications in the U.S., producing several daily, weekly and monthly publications, as well as data products, webinars and live events. Guided by a veteran team of award-winning journalists and attorneys, the Legal Group provides relevant, actionable news, analysis and legal opinions for lawyers, judges and legislators. In addition to paid subscriptions, digital and print advertising, the Legal Group earns a sizable portion of revenue from events, webinars and legislative alert services.
Regionally, the Legal Group stretches across the U.S. Specifically, this group includes the following publications: Massachusetts Lawyers Weekly (Boston, Massachusetts); Rhode Island Lawyers Weekly; Wisconsin Law Journal (Milwaukee, Wisconsin); Missouri Lawyers Weekly (St. Louis, Missouri); North Carolina Lawyers Weekly (Charlotte, North Carolina): South Carolina Lawyers Weekly; Minnesota Lawyer (Minneapolis, Minnesota); Michigan Lawyers Weekly (Detroit, Michigan); Virginia Lawyers Weekly (Richmond, Virginia); Arizona Capitol Times (Phoenix, Arizona) and The Daily Record (Baltimore, Maryland).
Best Companies Group. Best Companies Group is BridgeTower’s research unit and is best known for producing ‘Best Places to Work’ data in more than 45 markets and industry categories across the globe, with programs in the U.S., U.K., Canada and North Africa. Leveraging its proprietary surveys, Best Companies Group collects data from employers and employees of its client companies and then analyzes that information to assess employee engagement. Based in Harrisburg, Pennsylvania, Best Companies also conducts custom research projects within industries such as automotive, banking and healthcare.
Home Furnishings Division. Formerly known as Progressive Business Media, the Home Furnishings Division was acquired in November 2018. Based in Greensboro, North Carolina, this division is anchored by Furniture Today, a weekly publication, and several monthly publications, including Home Accents Today, Casual Living, HFN, Exterior Design, Designers Today, Gifts & Decorative Accessories, Kids Today and Home Textiles Today. The Home Furnishings Division produces several live events, including the annual Furniture Today Leadership Conference. The division also has a custom solutions team that builds advertisements, logos, custom content, videos and other marketing assets for the division’s advertising clients.
UpCurve
We believe that SMBs will adopt digital solutions to manage every aspect of their businesses and we created UpCurve to pursue that opportunity. UpCurve is focused on building technology solutions that allow SMBs to operate efficiently and effectively in an increasingly digital world. UpCurve provides two broad categories of solutions: ThriveHive, which provides guided marketing solutions for SMBs, and UpCurve Cloud, which offers best-in-breed cloud-based products for SMBs with expert guidance and support.
Through both organic and inorganic growth initiatives, UpCurve has grown into a recognized leader in the SMB space. In February of 2016 we acquired ThriveHive, an award-winning marketing automation system for SMBs, and subsequently rebranded our marketing division, formerly Propel Marketing, to ThriveHive. We also acquired ViWo, a SMB cloud product provider and W-Systems, a CRM provider in 2016. In 2017, ThriveHive won a national award from the Local Media Association for Best Digital Agency and in November of 2017 we acquired Closely, makers of the guided social marketing application Perch. In 2018, we released the free ThriveHive Grader product to help guide businesses to achieve better search engine optimization. Additionally, in 2018 we started attracting large affinity associations, which resulted in signed partnerships with the American Society of Interior Designers and the Associated Bodywork & Massage Professionals.
There were approximately 29.6 million SMBs in the U.S. in 2014 and about 29.0 million had 20 employees or less according to the U.S. Small Business Administration. Although these businesses are increasingly beginning to recognize the need to leverage technology solutions to operate their businesses, most do not have the time, expertise or resources to handle this themselves. This has led UpCurve to focus on guided solutions that bridge the gap between the needs and the capabilities of SMBs. Through guidance, provided by the right blend of software and service, we are able to help small businesses effectively utilize technology solutions. Because most SMBs in the United States are not yet using comprehensive technology solutions to operate their businesses, we see a large market opportunity using guidance to drive customer adoption and retention.

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In order to rapidly scale to meet the large market opportunity, we have been able to successfully leverage the unique trusted local GateHouse brands. We believe that significant media reach, combined with a large local salesforce in our operating markets has enabled us to sell our guided solutions much faster and more efficiently than we could have done without the GateHouse brands. We expect this unique relationship to allow us to continue to drive sales of existing products, as well as any potential new products that we may add to the UpCurve portfolio. As our scale has [expanded] our product and brand leadership, we are seeing increasing sales outside of our GateHouse geographic boundaries. We expect both future publication acquisitions and adoption outside of GateHouse markets to allow us to effectively further pursue the market opportunity.
GateHouse Live
Founded in late 2015, our community events and promotions business, GateHouse Live, leverages our local brands to create world-class events in the markets that we serve. In 2018, GateHouse Live produced over 350 annual events with a collective attendance over 400,000.  Among our core event offerings are a variety of themed expos focused on target audiences, including men, women, seniors and young families.  Other signature event series produced across many of our markets include one of the nation's largest high school sports recognition events and the official community's choice awards for dozens of markets across the country.  In 2018, GateHouse Live expanded into endurance events that include a network of over 90 marathons, half marathons, other footraces and obstacle course races across the United States and Canada with over 250,000 attendees annually.  GateHouse Live also offers white label event services for retailers and other media companies.
Revenue
Our operations generate revenue primarily from three primary sources: (i) advertising, (ii) circulation (including home delivery subscriptions, single copy sales and digital subscriptions) and (iii) other (primarily commercial printing, alternate delivery, digital marketing and business services and events). In 2018, these revenue streams accounted for approximately 48%, 38% and 14%, respectively, of our total revenue. The contribution of advertising, circulation and other revenue to our total revenue for New Media for the years ended December 30, 2018, December 31, 2017 and December 25, 2016 was as follows:
 
Year Ended December 30, 2018
 
Year Ended December 31, 2017
 
Year Ended December 25,
2016
(in thousands)
 
 
 
 
 
Revenue:
 
 
 
 
 
Advertising
$
728,327

 
$
683,990

 
$
684,900

Circulation
574,963

 
474,324

 
421,497

Commercial printing and other
222,734

 
183,690

 
148,959

Total revenue
$
1,526,024

 
$
1,342,004

 
$
1,255,356

Advertising
Advertising revenue, which includes revenue generated from online and mobile products, is the largest component of our revenue, accounting for approximately 48%, 51% and 55% of our total revenue in 2018, 2017 and 2016, respectively. We categorize advertising as follows:
Local Retail—local retailers, local stores for national retailers, grocers, drug stores, department and furniture stores, local financial institutions, niche shops, restaurants and other consumer related businesses.
Local Classified—local legal, obituaries, employment, automotive, real estate and other advertising.
Online—banner, display, classified, behavioral targeting, audience extension, search and other advertising on websites or mobile devices.
National—national and major accounts such as wireless communications companies, airlines and hotels, generally placed with us through agencies.
We believe that our advertising revenue tends to be less volatile than the advertising revenue of large metropolitan and national print media because we rely primarily on local, rather than national advertising and our classified revenue tends to be more local market oriented (job listing, for example). We generally derive 95% or more of our advertising revenue from local advertising (local retail, local classified and online) and less than 5% from national advertising. We believe that local advertising tends to be less sensitive to economic cycles than national advertising because local businesses generally have fewer effective advertising channels through which they may reach their customers.

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Our advertising rate structures vary among our publications and are a function of various factors, including local market conditions, competition, circulation, readership and demographics. Management works with local newspaper management to set advertising rates and a portion of our publishers’ incentive compensation is based upon growing advertising revenue. Our sales compensation program emphasizes digital and new business growth. We share advertising concepts throughout our network of publishers and advertising directors, including periodic special section programs, enabling them to utilize advertising products and sales strategies that are successful in other markets we serve.
Substantially all of our advertising revenue is derived from a diverse group of local retailers and local classified advertisers, resulting in very limited customer concentration. No single advertiser accounted for more than 1% of our total revenue in 2018, 2017 or 2016 and our 20 largest advertisers account for less than 10% of total revenue.
Our advertising revenue tends to follow a seasonal pattern, with higher advertising revenue in months containing significant events or holidays. Accordingly, our first quarter, followed by our third quarter, historically, are our weakest quarters of the year in terms of revenue. Correspondingly, our second and fourth fiscal quarters, historically, are our strongest quarters. We expect that this seasonality will continue to affect our advertising revenue in future periods.
We have experienced declines in advertising revenue over the past few years, due primarily to the secular pressures on the business as consumers and advertisers shift time and spend from traditional media to the internet. We continue to search for organic growth opportunities, specifically with digital advertising and ways to stabilize print revenue declines through strengthening local news product, value based pricing and training of sales staff.
Circulation
Our circulation revenue is derived from home delivery sales to subscribers, single copy sales at retail stores and vending racks and boxes, and digital subscriptions. We own 146 paid daily publications that range in circulation from approximately 500 to 101,000 and 194 paid weekly publications that range in circulation from approximately 100 to 14,000. Circulation revenue accounted for approximately 38%, 35% and 34% of our total revenue in 2018, 2017 or 2016, respectively.
Subscriptions are typically sold for three to twelve-month terms and often include promotions to extend the average subscription period or convert someone to become a subscriber. We also provide bundled print and digital subscriptions and employ pay meters for our website content at most of our daily publications. We implement marketing programs to increase readership through subscription and single copy sales, including company-wide and local circulation contests, direct mail programs, door-to-door sales and strategic alliances with local schools in the form of “Newspapers in Education” programs. In addition, since the adoption of the Telemarketing Sales Rule by the Federal Trade Commission in 2003, which created a national “do not call” registry, we have increased our use of “EZ Pay” programs, kiosks, sampling programs, in-paper promotions and online promotions to increase our circulation.
We encourage subscriber use of EZ Pay, a monthly credit card charge or direct bank debit payment program, which has led to higher retention rates for subscribers. We also use an active stop-loss program for all expiring subscribers. Additionally, in order to improve our circulation revenue and circulation trends, we periodically review the need for quality enhancements, such as:
Consumer research to better understand local content of interest;
Increasing the amount of unique hyper-local content;
Increasing the use of color and color photographs;
Improving graphic design, including complete redesigns;
Developing creative and interactive promotional campaigns;
Improving customer service and company-wide customer retention efforts; and
Better use of demographic data to specifically target pricing and customer acquisition opportunities.
We believe that our unique and valuable hyper-local content allows us to continue to produce products of great relevance to our local market audiences. This allows us to be able to periodically raise prices, both for home delivery and on a single copy basis, resulting in increased circulation revenues. We also believe this unique hyper-local content will allow us to find ways to grow circulation revenues from our wide array of digital products.
Other
We provide commercial printing services to third parties on a competitive bid basis as a means to generate incremental revenue and utilize excess printing capacity. These customers consist primarily of other publishers that do not have their own

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printing presses and do not compete with our publications. We also print other commercial materials, including flyers, business cards and invitations. Additionally, this category includes UpCurve which provides digital marketing and business services for SMBs and GateHouse Live, our events business. Other sources of revenue, including commercial printing and UpCurve, accounted for approximately 14%, 14% and 12% of our total revenue in 2018, 2017 or 2016, respectively.
Printing and Distribution
We own and operate 46 print facilities. Our print facilities produce nine publications on average and are generally located within 60 miles of the communities served. By clustering our production resources or outsourcing where cost beneficial, we are able to reduce the operating costs of our publications while increasing the quality of our small and midsize market publications that would typically not otherwise have access to high quality production facilities. We also believe that we are able to reduce future capital expenditure needs by having fewer overall pressrooms and buildings. We believe our superior production quality is critical to maintaining and enhancing our position as the leading provider of local news coverage in the markets we serve. As other print media businesses look to reduce costs, we believe we have the opportunity to leverage our unutilized press time to grow our commercial print customer base and revenue.
The distribution of our daily newspapers is typically outsourced to independent, locally based, third-party distributors that also distribute a majority of our weekly newspapers and non-newspaper publications. We continuously evaluate lower cost options for newspaper delivery. In addition, certain of our shopper and weekly publications are delivered via the U.S. Postal Service.
Availability of Raw Materials for Our Business—Newsprint
The basic raw material for our publications is newsprint. We generally maintain only a 45 to 55-day inventory of newsprint.
Historically, the market price of newsprint has been volatile, reaching a high of approximately $823 per metric ton in 2008 and a low of $410 per metric ton in 2002. However, from 2010 to 2018, there was much less volatility in newsprint pricing, and we have benefited from negotiating a fixed annual price for a majority of our newsprint. The average market price of newsprint during 2018 was approximately $728 per metric ton.
In 2017, we consumed approximately 115,900 metric tons of newsprint (inclusive of commercial printing), and the cost of our newsprint consumption totaled approximately $66.3 million. In contrast, in 2018, we consumed approximately 117,500 metric tons of newsprint (inclusive of commercial printing), and the cost of our newsprint consumption totaled approximately $85.7 million. Our newsprint expense typically averages less than 6% of total revenue, which we believe generally compares favorably to larger, metropolitan newspapers.
Competition
Each of our publications compete for advertising revenue to varying degrees with traditional media outlets such as direct mail, yellow pages, radio, outdoor advertising, broadcast and cable television, magazines, local, regional and national newspapers, shoppers and other print and online media sources, including local blogs. We also increasingly compete with new digital and social media companies for advertising revenue. However, we believe that competitive barriers to entry remain high in many of the markets we serve in terms of being the preeminent source for local news and information therein, because our markets are generally not large enough to support a second newspaper and because our local news gathering infrastructures, sales networks and relationships would be time consuming and costly to replicate. We also have highly-recognizable local brand names and long histories in the towns we serve.
We also provide our readers with community-specific content, which is generally not available from other media sources. We believe that our direct and focused coverage of the market and our cost effective advertising rates relative to more broadly circulated metropolitan newspapers allow us to tailor an approach for the advertisers. As a result, our publications generally capture a large share of local advertising in the markets they serve.
The level of competition and the primary competitors that we face vary from market to market. Competition tends to be based on market penetration, demographic and quality factors, as opposed to price factors. The competitive environment in each of our operating regions is discussed in greater detail below.
The Boston Globe and boston.com, a metropolitan daily and website, respectively, owned by John Henry, compete with the publications throughout eastern Massachusetts. In addition, competition from other Massachusetts companies include approximately 16 dailies and 50 weeklies, three major radio station operators, five local network television broadcasters, one cable company and numerous niche publications for advertising revenues.

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The Cape Cod and New Bedford, Massachusetts newspapers experience competition from weekly newspapers, local radio stations, shopping guides, directories and niche publications.
In Middletown, New York, The Times Herald-Record is the leading print and digital media and has an audience far larger than its competitors, including Daily newspapers owned by Gannett Company, Inc. (Poughkeepsie Journal in Poughkeepsie, New York) and 21st Century Media, Inc. (Daily Freeman in Kingston, New York) which compete within the New York market. The Times Herald-Record also competes with 46 weekly, bi-weekly and monthly print products and Spectrum, radio stations and directories. The market is formally known as the Hudson Valley New York region. In the Middletown market, the nationally known Legoland, already ahead of construction timelines, will open in the spring of 2020 in the heart of the Times Herald-Record footprint. Additionally, a new casino opened on February 2017 in Sullivan County - a market also within the footprint of the Times Herald-Record. This was a one billion dollar project that has full casino, hotels, golf course and waterpark.
The Providence Journal is the leading daily newspaper in the state of Rhode Island and is complimented by the Newport Daily News. Other daily newspaper operators in the state include RISN Operations, Inc., which publish five daily papers and six weekly publications serving communities in Rhode Island. Three other companies publish more than 16 weeklies in Rhode Island. The Providence market has seven local network television stations and three major radio station operators, one cable company and numerous print and online niche publications, such as Rhode Island Monthly Magazine and the business publication, Providence Business News.
The Fayetteville Observer delivers to 10 counties in southeastern North Carolina. It is based in Cumberland County, home to Fayetteville and Fort Bragg, the nation’s largest Army installation. ABC, CBS, NBC and Fox affiliates based in Raleigh, Durham and Wilmington cover the Fayetteville region, with at least two stations having small bureaus in Fayetteville. Beasley Broadcast Group and Cumulus Media Inc. dominate the radio market with stations including WFCN 640 AM news talk, WZFX 99.1 FM Foxy 99 urban contemporary, WKML 95.7 FM country, WQSM 98.1 FM hot adult contemporary and WRCQ 103.5 FM rock. Mspark is the primary direct mail competitor. Lamar Advertising and Fairway Outdoor serve the billboard needs of the market. Niche print publications based in Fayetteville include Up & Coming Weekly, CityView Magazine and The Fayetteville Press. The Fayetteville Observer is by far the leading print and digital publication in the region.
Our publications, The Gainesville Sun and Ocala Star Banner, are the leading media in their respective markets, primarily Alachua and Marion counties. Competition in this market include four television stations, which is unusual for markets this size. Gainesville has its own DMA and Ocala falls into the Orlando DMA. There are no other dailies in the market other than a slow movement by the Villages Daily Sun into Marion county (Ocala), a concern due to their offering the lowest home delivery and single copy rates of any Florida daily. They operate as part of one of the fastest-growing developments in the county, The Villages. Our Gainesville Sun also publishes a weekly newspaper, Gainesville Guardian, in east Gainesville and also a very successful city magazine, Gainesville Magazine.
In the Daytona Beach market, The Daytona Beach News-Journal is the leading media. Primary print competition for the west side of the coverage area is the Orlando Sentinel, owned by Tribune Publishing Company. Smaller weekly competitive publications, including The Observer Group and Hometown News, are also in the market. Major radio and network television stations are out of the Orlando market.
In the Sarasota market, The Herald-Tribune publications are generally the leading media and have an audience far larger than the competitors for the main areas we serve. Daily newspapers owned by McClatchy (Bradenton Herald) and Sun Coast Media Group, the Charlotte Sun, border on the north and south ends of the market, respectively and distribute in some circulation areas on the fringes. The Herald-Tribune prints the Bradenton Herald and is contracted to distribute all home delivery copies. The Sarasota market has one local network television station and several local radio station operators and cable companies as well as numerous non-daily print and online niche publications.
Located in central Florida, the publication, The Ledger in Lakeland is bordered by the Orlando Sentinel to the east and the Tampa Bay Times to the west. In addition, competitors include multiple weekly newspapers and two radio stations. The Ledger is the leading media in the central Florida area it serves. The Lakeland Ledger began printing the Orlando Sentinel in September 2017.
In Tuscaloosa and Gadsden, the Tuscaloosa News and Gadsden Times, respectively, are the leading media in the markets they serve. Television that serves both markets is out of Birmingham, Alabama. The digital space is highly competitive with the competing site al.com, owned by Advance Local, which covers the state.
In the Columbus, Ohio market, the advertising competition in print is minimal with just a weekly business journal and a few small monthly magazines. On the electronic and digital side, the competition is intense and is comprised of six network TV

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stations, three cable companies, ten radio stations and twelve digital agencies, with SMART 1 being the most aligned with UpCurve’s product set.
Lee Enterprises publishes the Southern Illinoisan in Carbondale, a regional newspaper that competes with our publication in West Frankfort. We believe our publication is the leading local daily, but regional competition does exist from the larger dailies, shoppers and weekly newspapers. Television competition does not exist in this group because of the geographic location in relation to major markets. There are no local television affiliates in our markets.
In the Upstate New York and northwest Pennsylvania markets, we see competition from major newspaper companies: daily newspapers owned by Gannett Company, Inc. (The Star-Gazette in Elmira, New York and the Chambersburg, Pennsylvania Public-Opinion); Times-Shamrock Company’s Scranton, Pennsylvania The Times-Tribune and Towanda Daily/Sunday Review; Community Newspaper Holdings, Inc.’s Sunbury Daily Item; and Ogden-Nutting’s Williamsport Sun-Gazette.
In the Great Lakes markets, the only significant competition comes from regional television stations in Adrian, Michigan. Competition from other local daily and weekly papers and niche publications, as well as radio and television stations, directories, direct mail and non-local internet websites can be found in the market, but none have proven to be significant.
In the Louisiana markets, major competition comes from regional daily newspapers, such as The Advocate in Baton Rouge, Louisiana, and The American Press in Lake Charles, Louisiana. In Central Kansas and Missouri, we compete with The Joplin Globe and the Wichita Eagle. We also face competition from numerous other daily and weekly papers, local radio stations, shopping guides, directories and niche publications. Our community newspapers operate in relatively isolated markets where they are the leading sources of local news and print/digital advertising.
In the Sherman, Texas market, our publications are the leading media with minor competition with The Dallas Morning News, which has minimal circulation and does not focus on local content. We own all the weeklies in the Sherman, Texas market, though there is some weekly competition in outlying Texas and Oklahoma communities. The Herald Democrat also competes with local TV stations and several locally-owned radio stations in the market.
In Arkansas, there is some minor competition from the Northwest Arkansas Democrat-Gazette in northern Crawford county, Arkansas, but they have limited circulation and news coverage in the Fort Smith market. The Northwest Arkansas Democrat-Gazette circulates in the market with our publication, The Pine Bluff Commercial, but does not deliver the community coverage that is most relevant to Pine Bluff and the surrounding counties. There are several locally-owned radio stations in the market that also compete with The Pine Bluff Commercial.
In the U.S. mid-western states, our publications control every local weekly and daily paper in Story County, Iowa and have weeklies in other neighboring counties, the principal print competition is the Des Moines Register, but it does not deliver meaningful local community content.
The San Joaquin Media Group, with its flagship, The Record, is the leading local news source in Stockton, California, but there is significant competition for print and digital dollars. In the county, competition comes from three community newspapers, each within 10 miles of Stockton, as well as The Sacramento Bee and Modesto Bee with smaller distribution in the county. Additionally, there are two successful glossy monthly magazines, a business journal, Red Plum (Valassis), Lincoln Center Chronicle monthly, outdoor advertising everywhere and a few digital agencies including the marketing agency, Excelerate, owned by The McClatchy Company.
While there is tougher competition in larger markets as compared to the smaller markets across the Western U.S., the strength of each of these groups comes from being local and having built trusted relationships over the last 100 years. None of our competitors have proven to be significant. Our publications and websites have a rich history in local markets which we believe uniquely positions them for unmatched reach and relevancy.
BridgeTower. Across the Business and Legal groups, we believe the majority of BridgeTower titles are the leading information provider within their respective niche, and many of our brands face no direct competition. In Baltimore and Minneapolis, we contend with business journals run by American City Business Journals, part of Advance Publications Inc. In states like Pennsylvania, we straddle counties that are covered by other business media but are the leading business brands in Lehigh Valley and Central Pennsylvania. Our monthly magazine Pet Age, geared toward pet store owners, competes with Pet Business and Pet Product News.
In the legal space, we coexist and partner with state bar associations but otherwise face limited direct local competition. ALM continues to be the largest media company covering attorneys, but BridgeTower and ALM’s regional brands operate in separate regions. We believe Best Companies Group maintains the highest market share within the employee satisfaction research vertical, which includes Great Place to Work Institute and Workplace Dynamics.

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In the Home Furnishings Division, we believe most of the brands are the leading publications in their segments. However, the magazines focused on exterior and interior design face a number of direct and indirect competitors based on the continued growth in those market segments.
Employees
As of December 30, 2018, we employed 10,638 employees. We employ union personnel at a number of our core publications representing 1,225 employees. As of December 30, 2018, there were 43 collective bargaining agreements covering union personnel. Most of our unionized employees work under collective bargaining agreements that expired in 2018. We believe that relations with our employees are generally good, and we have had no work stoppages at any of our publications.
Environmental Matters
We believe that we are in substantial compliance with all applicable laws and regulations for the protection of the environment and the health and safety of our employees based upon existing facts presently known to us. Compliance with federal, state, and local environmental laws and regulations relating to the discharge of substances into the environment, the disposal of hazardous wastes and other related activities has had, and will continue to have, an impact on our operations, but has been accomplished to date without having a material adverse effect on its operations. While it is difficult to estimate the timing and ultimate costs to be incurred due to uncertainties about the status of laws, regulations and technology, based on information currently known to us and insurance procured with respect to certain environmental matters, we do not expect environmental costs or contingencies to be material or to have a material adverse effect on our financial performance. Our operations involve risks in these areas, however, and we cannot assure you that we will not incur material costs or liabilities in the future which could adversely affect us.
Corporate Governance and Public Information
The address of New Media’s website is http://www.newmediainv.com/. Stockholders can access a wide variety of information on New Media’s website, under the “Investor Relations” tab, including news releases, SEC filings, information New Media is required to post online pursuant to applicable SEC rules, newspaper profiles and online links. New Media makes available via its website all filings it makes under the Securities and Exchange Act of 1934, as amended, including Forms 10-K, 10-Q and 8-K, and related amendments, as soon as reasonably practicable after they are filed with, or furnished to, the SEC. All such filings are available free of charge. Neither the content of New Media’s corporate website nor any other website referred to in this report are incorporated by reference into this report unless expressly noted. New Media’s filings are available on the SEC website at www.sec.gov free of charge.

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List of New Media’s Dailies, Weeklies, Shoppers, Websites and Business Publications
As of December 30, 2018, New Media’s dailies, weeklies, shoppers, websites and business publications were as listed below. New Media maintains registered trademarks in many of the masthead names listed below. Maintaining such trademarks allows us to exclusively use the masthead name to the exclusion of third parties.
 
Newspapers
State
 
City
 
Masthead
 
Circulation Type
Alabama
 
Gadsden
 
The Gadsden Times
www.gadsdentimes.com
 
Daily
 
 
Tuscaloosa
 
The Tuscaloosa News
www.tuscaloosanews.com
www.tidesports.com
 
Daily
 
 
Tuscaloosa
 
TNews Weekly
 
Free Weekly
Arkansas
 
Conway
 
Log Cabin Democrat
www.thecabin.net
 
Daily
 
 
Fort Smith
 
Ft. Smith Southwest Times Record
www.swtimes.com
 
Daily
 
 
Pine Bluff
 
Pine Bluff Commercial
www.pbcommercial.com
 
Daily
 
 
Stuttgart
 
Stuttgart Daily Leader
www.stuttgartdailyleader.com
 
Daily
 
 
Booneville
 
Booneville Democrat
www.boonevilledemocrat.com
 
Paid Weekly
 
 
Charleston
 
Charleston Express
www.charlestonexpress.com
 
Paid Weekly
 
 
Clinton
 
Van Buren County Democrat
www.vanburencountydem.com
 
Paid Weekly
 
 
Greenwood
 
Greenwood Democrat
www.greenwooddemocrat.com
 
Paid Weekly
 
 
Heber Springs
 
The Sun Times
www.thesuntimes.com
 
Paid Weekly
 
 
Helena
 
The Daily World
www.helena-arkansas.com
 
Paid Weekly
 
 
Hot Springs
 
Hot Springs Village Voice
www.hsvoice.com
 
Paid Weekly
 
 
Newport
 
Newport Independent
www.newportindependent.com
 
Paid Weekly
 
 
Paris
 
Paris Express
www.paris-express.com
 
Paid Weekly
 
 
Van Buren
 
Press Argus Courier
www.pressargus.com
 
Paid Weekly
 
 
Van Buren
 
Alma Journal
 
Paid Weekly
 
 
White Hall
 
The White Hall Journal
www.whitehalljournal.com
 
Paid Weekly
 
 
Helena
 
Daily World TMC
www.helena-arkansas.com
 
Free Weekly
 
 
Stuttgart
 
The Xtra
www.stuttgartdailyleader.com
 
Free Weekly
 
 
White Hall
 
The Arsenel Sentinel
 
Free Weekly
 
 
Conway
 
More!
 
Shopper
 
 
Fort Smith
 
River Valley Advertiser
 
Shopper
California
 
Ridgecrest
 
The Daily Independent
www.ridgecrestca.com
 
Daily
 
 
Stockton
 
The Stockton Record
www.recordnet.com
 
Daily

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Victorville
 
Victorville Daily Press
www.vvdailypress.com
 
Daily
 
 
Yreka
 
Siskiyou Daily News
www.siskiyoudaily.com
 
Daily
 
 
Lucerne Valley
 
Lucerne Valley Leader
www.vvdailypress.com/lucerne-valley-leader
 
Paid Weekly
 
 
Mt Shasta
 
Weed Press
www.mtshastanews.com
 
Paid Weekly
 
 
Mt Shasta
 
Dunsmuir News
www.mtshastanews.com
 
Paid Weekly
 
 
Mt Shasta
 
Mt Shasta Herald
www.mtshastanews.com
 
Paid Weekly
 
 
Taft
 
Midway Driller
www.taftmidwaydriller.com
 
Paid Weekly
 
 
Barstow
 
Desert Dispatch
www.vvdailypress.com/desertdispatch
 
Free Weekly
 
 
Hesperia
 
Hesperia Star
www.vvdailypress.com/hesperia-star

 
Free Weekly
 
 
Stockton
 
VIDA
 
Free Weekly
 
 
Mt Shasta
 
Super Saver Advertiser
 
Shopper
 
 
Ridgecrest
 
Super Tuesday
 
Shopper
 
 
Stockton
 
Sunday Select
 
Shopper
 
 
Stockton
 
The Valley Marketplace/TMC
www.esanjoaquin.com
 
Shopper
 
 
Victorville
 
Review
www.vvdailypress.com/apple-valley-review
 
Shopper
Colorado
 
La Junta
 
La Junta Tribune Democrat
www.lajuntatribunedemocrat.com
 
Daily
 
 
Pueblo
 
The Pueblo Cheftain
www.chieftain.com
 
Daily
 
 
La Junta
 
Ag Journal
www.agjournalonline.com
 
Paid Weekly
 
 
La Junta
 
Fowler Tribune
www.fowlertribune.com
 
Paid Weekly
 
 
Las Animas
 
Bent County Democrat
www.bcdemocratonline.com
 
Paid Weekly
 
 
Pueblo
 
The Pueblo West View
 
Free Weekly
 
 
Pueblo
 
Pueblo Events
 
Free Weekly
Connecticut
 
Norwich
 
The Bulletin
www.norwichbulletin.com
 
Daily
 
 
Norwich
 
Bulletin Deals
 
Shopper
Delaware
 
Dover
 
Smyrna/Clayton Sun Times
www.scsuntimes.com
 
Paid Weekly
 
 
Dover
 
The Middletown Transcript
www.middletowntranscript.com
 
Paid Weekly
 
 
Dover
 
Community Publication
www.communitypub.com
 
Free Weekly
 
 
Dover
 
Dover Post
www.doverpost.com
www.delmarvaexpress.com
 
Free Weekly
 
 
Dover
 
Milford Beacon
www.milfordbeacon.com
 
Free Weekly
Florida
 
Daytona Beach
 
Daytona Beach News-Journal
www.news-journalonline.com
 
Daily

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Fort Walton Beach
 
Northwest Florida Daily News
www.nwfdailynews.com
www.nwfdailynews.com/eat-play-stay-destin
www.nwfvarsity.com
 
Daily
 
 
Gainesville
 
The Gainesville Sun
www.gainesville.com
www.gatorsports.com
 
Daily
 
 
Jacksonville
 
The Florida Times-Union
www.jacksonville.com
 
Daily
 
 
Lakeland
 
The Ledger
www.theledger.com
 
Daily
 
 
Leesburg
 
Daily Commercial
www.dailycommercial.com
 
Daily
 
 
Ocala
 
Ocala Star Banner
www.ocala.com
 
Daily
 
 
Panama City
 
Panama City News Herald
www.newsherald.com
www.panhandlevarsity.com
 
Daily
 
 
Sarasota
 
Herald-Tribune
www.heraldtribune.com
 
Daily
 
 
St. Augustine
 
The St. Augustine Record
www.staugustine.com
www.visitstaug.com
 
Daily
 
 
West Palm Beach
 
The Palm Beach Post
www.palmbeachpost.com
www.mypalmbeachpost.com
 
Daily
 
 
West Palm Beach
 
Palm Beach Daily News
www.palmbeachdailynews.com
 
Daily
 
 
Winter Haven
 
News Chief
www.newschief.com
 
Daily
 
 
Apalachicola
 
The Times
www.apalachitimes.com
 
Paid Weekly
 
 
Bonifay
 
Holmes County Times Advertiser
 
Paid Weekly
 
 
Chipley
 
Washington County News
www.chipleypaper.com
 
Paid Weekly
 
 
Crestview
 
Crestview News Bulletin
www.crestviewbulletin.com
 
Paid Weekly
 
 
Destin
 
The Destin Log
www.thedestinlog.com
 
Paid Weekly
 
 
Milton
 
Santa Rosa Press Gazette
www.srpressgazette.com
 
Paid Weekly
 
 
Port St. Joe
 
The Star
www.starfl.com
 
Paid Weekly
 
 
Clermont
 
South Lake Press
www.southlakepress.com
 
Free Weekly
 
 
Gainesville
 
The Gainesville Guardian
 
Free Weekly
 
 
Jacksonville
 
JAX Air News
www.jaxairnews.jacksonville.com
 
Free Weekly
 
 
Jacksonville
 
Mayport Mirror
www.mayportmirror.jacksonville.com
 
Free Weekly
 
 
Santa Rosa Beach
 
The Walton Sun
www.waltonsun.com
 
Free Weekly
 
 
Daytona Beach
 
Daytona Pennysaver
 
Shopper
 
 
Daytona Beach
 
Flagler Pennysaver
 
Shopper
 
 
Daytona Beach
 
New Smyrna Pennysaver
 
Shopper
 
 
Daytona Beach
 
West Volusia Pennysaver
 
Shopper
 
 
Jacksonville
 
SMC
 
Shopper

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St. Augustine
 
St. Johns Sun
 
Shopper
Georgia
 
Athens
 
Athens Banner-Herald
www.onlineathens.com
 
Daily
 
 
Augusta
 
The Augusta Chronicle
www.augustachronicle.com
www.augusta.com
 
Daily
 
 
Savannah
 
Savannah Morning News
www.savannahmorningnews.com
www.businesssavannah.com
www.health.savannahnow.com
www.know.savannahow.com
www.lavozlatinaonline.com
www.dosavannah.com
www.dining.savannahnow.com
 
Daily
 
 
Augusta
 
The Columbia County News-Times
www.newstimes.augusta.com
 
Paid Weekly
 
 
Augusta
 
The Hampton County Guardian
 
Free Weekly
 
 
Augusta
 
Richmond County Neighbors
 
Free Weekly
 
 
Augusta
 
Sylvania Telephone
www.sylvaniatelephone.com
 
Free Weekly
 
 
Louisville
 
The Jefferson News-Farmer
www.thenewsandfarmer.com
 
Free Weekly
 
 
Savannah
 
Bryan County Now
 
Free Weekly
 
 
Savannah
 
Effingham Now
 
Free Weekly
 
 
Savannah
 
The Jet Stream
 
Free Weekly
 
 
Athens
 
Around Athens Deals SMC
 
Shopper
 
 
Athens
 
The Oconee Leader
 
Shopper
 
 
Augusta
 
Columbia County Today
 
Shopper
 
 
Augusta
 
Richmond County Today
 
Shopper
 
 
Augusta
 
North Augusta Today
 
Shopper
 
 
Savannah
 
Tell-N-Sell
www.tell-n-sell.com
 
Shopper
Illinois
 
Canton
 
Daily Ledger
www.cantondailyledger.com
 
Daily
 
 
Carmi
 
The Carmi Times
www.carmitimes.com
 
Daily
 
 
Freeport
 
The Journal Standard
www.journalstandard.com
 
Daily
 
 
Galesburg
 
The Register-Mail
www.galesburg.com
 
Daily
 
 
Kewanee
 
Star-Courier
www.starcourier.com
 
Daily
 
 
Lincoln
 
The Courier
www.lincolncourier.com
 
Daily
 
 
Macomb
 
McDonough County Voice
www.mcdonoughvoice.com
 
Daily
 
 
Monmouth
 
Daily Review Atlas
www.reviewatlas.com
 
Daily
 
 
Olney
 
The Olney Daily Mail
www.olneydailymail.com
 
Daily
 
 
Pekin
 
Pekin Daily Times
www.pekintimes.com
 
Daily
 
 
Peoria
 
Journal Star
www.pjstar.com
 
Daily

29

Table of Contents

 
 
Pontiac
 
Daily Leader
www.pontiacdailyleader.com
 
Daily
 
 
Rockford
 
Rockford Register Star
www.rrstar.com
 
Daily
 
 
Springfield
 
The State Journal-Register
www.sj-r.com
 
Daily
 
 
Abingdon
 
Abingdon Argus-Sentinel
www.eaglepublications.com
 
Paid Weekly
 
 
Aledo
 
The Times Record
www.aledotimesrecord.com
 
Paid Weekly
 
 
Augusta
 
Augusta Eagle-Scribe
www.eaglepublicatons.com
 
Paid Weekly
 
 
Cambridge
 
Cambridge Chronicle
www.cambridgechron.com
 
Paid Weekly
 
 
Fairbury
 
The Blade
 
Paid Weekly
 
 
Flora
 
Advocate Press
www.advocatepress.com
 
Paid Weekly
 
 
Galva
 
Galva News
www.galvanews.com
 
Paid Weekly
 
 
Geneseo
 
The Geneseo Republic
www.geneseorepublic.com
 
Paid Weekly
 
 
Newton
 
Newton Press Mentor
www.pressmentor.com
 
Paid Weekly
 
 
Oquawka
 
Oquawka Current
 
Paid Weekly
 
 
Orion
 
Orion Gazette
www.oriongazette.com
 
Paid Weekly
 
 
Roseville
 
Roseville Independent
www.eaglepublications.com
 
Paid Weekly
 
 
Teutopolis
 
Teutopolis Press
www.teutopolispress.com
 
Paid Weekly
 
 
West Frankfort
 
SI Trader
www.sitraders.com
 
Paid Weekly
 
 
Chillicothe
 
Chillicothe Times Bulletin
www.chillicothetimesbulletin.com
 
Free Weekly
 
 
East Peoria
 
East Peoria Times-Courier
www.eastpeoriatimescourier.com
 
Free Weekly
 
 
Galesburg
 
Knox County Neighbors
www.galesburg.com
 
Free Weekly
 
 
Metamora
 
Woodford Times
www.woodfordtimes.com
 
Free Weekly
 
 
Morton
 
Morton Times News
www.mortontimesnews.com
 
Free Weekly
 
 
Washington
 
Washington Times Reporter
www.washingtontimesreporter.com
 
Free Weekly
 
 
Aledo
 
Town Crier Advertiser
 
Shopper
 
 
Canton
 
Fulton County Shopper
 
Shopper
 
 
Flora
 
CCAP Special
 
Shopper
 
 
Freeport
 
The Scene
 
Shopper
 
 
Geneseo
 
Henry County Advertizer/Shopper
 
Shopper
 
 
Lincoln
 
Logan County Shopper
 
Shopper
 
 
Macomb
 
McDonough County Choice
 
Shopper
 
 
Monmouth
 
Pennysaver
 
Shopper
 
 
Olney
 
Richland County Shopper
 
Shopper
 
 
Olney
 
Jasper County News Eagle
 
Shopper
 
 
Peoria
 
The Marketplace
 
Shopper
 
 
Peoria
 
Pekin Extra
 
Shopper

30

Table of Contents

 
 
Pontiac
 
Livingston Shopping News
 
Shopper
 
 
Rockford
 
The Weekly
 
Shopper
 
 
Springfield
 
Springfield Advertiser
 
Shopper
 
 
Springfield
 
Springfield Shopper
 
Shopper
Iowa
 
Ames
 
Ames Tribune
www.amestrib.com
 
Daily
 
 
Boone
 
Boone News Republican
www.newsrepublican.com
 
Daily
 
 
Burlington
 
The Hawk Eye
www.thehawkeye.com
 
Daily
 
 
Adel
 
Dallas County News
www.adelnews.com
 
Paid Weekly
 
 
Hamburg
 
Hamburg Reporter
www.hamburgreporter.com
 
Paid Weekly
 
 
Nevada
 
Nevada Journal
 
Paid Weekly
 
 
Nevada
 
Tri-County Times
www.tricountytimes.com
 
Paid Weekly
 
 
Perry
 
The Perry Chief
www.theperrychief.com
 
Paid Weekly
 
 
Story City
 
Story City Herald
www.storycityherald.com
 
Paid Weekly
 
 
Adel
 
Dallas County Today
 
Shopper
 
 
Ames
 
Ames Sun/Story County Advertiser
 
Shopper
 
 
Boone
 
Boone Shopping News
 
Shopper
 
 
Burlington
 
Live Local
 
Shopper
 
 
Perry
 
Chiefland Shopper
 
Shopper
Kansas
 
Dodge City
 
Dodge City Daily Globe
www.dodgeglobe.com
 
Daily
 
 
Garden City
 
Garden City Telegram
www.gctelegram.com
 
Daily
 
 
Hays
 
The Hays Daily News
www.hdnews.net
 
Daily
 
 
Hutchison
 
The Hutchison News
www.hutchnews.com
 
Daily
 
 
Leavenworth
 
The Leavenworth Times
www.leavenworthtimes.com
 
Daily
 
 
McPherson
 
McPherson Sentinel
www.mcphersonsentinel.com
 
Daily
 
 
Newton
 
The Newton Kansan
www.thekansan.com
 
Daily
 
 
Pittsburg
 
The Morning Sun
www.morningsun.net
 
Daily
 
 
Salina
 
Salina Journal
www.salina.com
 
Daily
 
 
Topeka
 
The Topeka Capital-Journal
www.cjonline.com
www.neksweddings.com
www.tornado-cjonline.com
 
Daily
 
 
Baxter Springs
 
Cherokee County News-Advocate
www.sekvoice.com
 
Paid Weekly
 
 
El Dorado
 
The Butler County Times-Gazette
www.butlercountytimesgazette.com
 
Paid Weekly
 
 
Greensburg
 
Kiowa County Signal
www.kiowacountysignal.com
 
Paid Weekly

31

Table of Contents

 
 
Ottawa
 
Ottawa Herald
www.ottawaherald.com
 
Paid Weekly
 
 
Pratt
 
The Pratt Tribune
www.pratttribune.com
 
Paid Weekly
 
 
St John
 
St John News
www.sjnewsonline.com
 
Paid Weekly
 
 
Wellington
 
Wellington Daily News
www.wellingtondailynews.com
 
Paid Weekly
 
 
Dodge City
 
La Estrella
 
Free Weekly
 
 
Garden City
 
La Semana
 
Free Weekly
 
 
Leavenworth
 
The Fort Leavenworth Lamp
www.ftleavenworthlamp.com
 
Free Weekly
 
 
Dodge City
 
Shoppers Weekly
 
Shopper
 
 
El Dorado
 
Shoppers Guide
 
Shopper
 
 
Garden City
 
Bargain Plus
 
Shopper
 
 
Hiawatha
 
Penny Press 4
 
Shopper
 
 
Hutchinson
 
The Bee
 
Shopper
 
 
Leavenworth
 
Chronicle Shopper
 
Shopper
 
 
McPherson/Newton
 
South Central Kansas Shoppers Guide
 
Shopper
 
 
Ottawa
 
Ottawa Times-Shopper
 
Shopper
 
 
Pittsburg
 
The Sunland Shopper
 
Shopper
 
 
Pratt
 
Sunflower Shopper
 
Shopper
 
 
Salina
 
Buyers Guide
 
Shopper
 
 
Topeka
 
CJ Extra TMC
 
Shopper
Louisiana
 
Bastrop
 
The Bastrop Daily Enterprise
www.bastropenterprise.com
 
Daily
 
 
Houma
 
The Courier
www.houmatoday.com
 
Daily
 
 
Thibodaux
 
Daily Comet
www.dailycomet.com
 
Daily
 
 
DeRidder
 
Beauregard Daily News
www.beauregarddailynews.net
 
Paid Weekly
 
 
Donaldsonville
 
The Donaldsonville Chief
www.donaldsonvillechief.com
 
Paid Weekly
 
 
Gonzales
 
Gonzales Weekly Citizen
www.weeklycitizen.com
 
Paid Weekly
 
 
Leesville
 
Leesville Daily Leader
www.leesvilledailyleader.com
 
Paid Weekly
 
 
Plaquemine
 
Post South
www.postsouth.com
 
Paid Weekly
 
 
Sterlington
 
North Quachita Weekly
 
Free Weekly
 
 
DeRidder
 
The Weekly Post
 
Shopper
 
 
Gonzales
 
The Marketeer
www.weeklycitizen.com
 
Shopper
 
 
Houma
 
Tradin' Cajun
 
Shopper
 
 
Plaquemine
 
West Bank Shopper
www.postsouth.com
 
Shopper
Maine
 
Kennebunk
 
York County Coast Star
www.seacoastonline.com
 
Paid Weekly
 
 
York
 
York Weekly
www.seacoastonline.com
 
Paid Weekly
Massachusetts
 
Brockton
 
The Enterprise
www.enterprisenews.com
 
Daily
 
 
Fall River
 
The Herald News
www.heraldnews.com
 
Daily

32

Table of Contents

 
 
Framingham
 
The Metrowest Daily News
www.metrowestdailynews.com
 
Daily
 
 
Gardner
 
The Gardner News
www.thegardnernews.com
 
Daily
 
 
Hyannis
 
Cape Cod Times
www.capecodonline.com
www.capecodview.net
www.capecodetimes.com/primetime
 
Daily
 
 
Milford
 
The Milford Daily News
www.milforddailynews.com
 
Daily
 
 
New Bedford
 
The Standard-Times
www.southcoasttoday.com
 
Daily
 
 
Quincy
 
Patriot Ledger
www.patriotledger.com
 
Daily
 
 
Taunton
 
Taunton Daily Gazette
www.tauntongazette.com
 
Daily
 
 
Worcester
 
Telegram & Gazette
www.telegram.com
www.worcestermag.com
 
Daily
 
 
Abington
 
Abington Mariner
www.wickedlocal.com/abington
 
Paid Weekly
 
 
Acton/Roxborough
 
The Beacon
www.wickedlocal.com/acton