Hoosier Times Inc. has entered into an agreement to acquire Spencer Evening World Publishing, which publishes the Spencer Evening World, the Ellettsville Journal, Clay City News and Hoosier Topics of Cloverdale.
“As a family company ourselves, we are honored that SEWP, an employee-owned, highly respected media company, would choose Schurz Communications to acquire this well cared for local media operation,” said Todd Schurz, CEO of Schurz Communications, the parent company of the Hoosier Times.
The Hoosier Times includes newspapers The Herald-Times in Bloomington, The Reporter-Times in Martinsville, The Mooresville-Decatur Times in Mooresville and The Times-Mail in Bedford.
Spencer Evening World Publishing had been owned by the Gillaspy family until 2011, when it was sold to current Spencer Evening World employees as part of an employee stock ownership plan.
“Over the past few years, we have diligently explored various options to make Spencer Evening World Publishing, Inc., a sustainable company for our community,” said company president Tim Lewis. ”While we have made strides in that direction, it has become apparent that we needed a much larger foundation, along with the synergies that can come with it, to totally achieve this goal of sustainability. Being acquired by Hoosier Times, Inc. and Schurz Communications brings the much needed infrastructure and resources to the Spencer Evening World and related papers that will fortify the future of our hometown papers.”