Internal memos distributed within the Hearst Connecticut Media Group and the Waterbury Republican-American confirm that a deal is in the works for Hearst to acquire the family owned Waterbury paper by early next year.
The purchase by Hearst would further solidify the company’s hold on the Connecticut newspaper market and its role as the largest news gathering organization in the state. The Hartford Courant has long been seen by many observers as the ultimate target in the Hearst buying spree.
Coverage:
Hearst CT Media Group Negotiating to Buy the Republican-American – WRA
Hearst CT to Buy Republican-American – New Haven Register(Hearst)
Hearst Eyes WRA – HartfordBusiness.com
In a memo to Hearst employees, group publisher Mike DeLuca, said the acquisition would be good for Hearst, for readers, for communities served by Hearst papers, and advertisers.
In an internal email obtained by The Laurel, Republican-American owner Will Pape told employees that it has become “difficult” for independent papers to maintain “our standards of journalism and community engagement.” He added a “preliminary agreement” has been reached to sell the paper and the Citizen’s News to Hearst. Pape said the deal is expected to be completed early next year.
The history of the Waterbury Republican dates back to 1844. In 1990 it merged with the Waterbury American to become the Republican-American. The Pape family has been involved in the paper’s ownership since 1901. Last week it was learned the company is working to sell its large headquarters building in downtown Waterbury.
In the last two years, Hearst has successfully acquired two other family owned Connecticut papers: The Meriden Record-Journal and the Manchester based Journal Inquirer.
Developing…
