Private equity firm buys business newspaper owner Bridgetower Media
BridgeTower Media, which owns business newspapers such as the Idaho Business Review and Charleston Regional Business Journal, has been sold to a private equity firm for an undisclosed price.
Transom Capital Group has more than $600 million in assets under management and is based in Los Angeles.
BridgeTower’s publications include Massachusetts Lawyers Weekly, NJBIZ, Arizona Capitol Times, The Daily Record (MD) and Furniture Today. It also owns It also owns Long Island Business News, New Orleans CityBusiness, the Daily Journal of Commerce in Oregon, and Finance & Commerce in Minnesota. The company is based in Minneapolis.
“We’re excited to partner with Transom to expand our business and strengthen our commitment to the markets we serve,” said BridgeTower CEO Adam Reinebach in a statement.
In 2015, Gatehouse acquired the business newspapers previously operated by Dolan Media for $35 million.