Adams MultiMedia acquiring The Southeast Iowa Union

A Minnesota-based company is entering into an agreement to purchase The Southeast Iowa Union, The Gazette and 10 other community newspapers, the companies announced jointly Tuesday morning.

The agreement between Tom Pientok, president & CEO of Folience Inc., and Mark Adams, president and CEO of Adams MultiMedia (AMM), is expected to be finalized by Dec. 1, at which time the employees of The Southeast Iowa Union will join Adams MultiMedia. Employees of The Union were told of the transaction Tuesday afternoon.

The transaction maintains independence and ownership by a family-held company, a structure The Gazette has had through much of its 143-year history. The Gazette, which was founded in 1883, publishes a daily digital edition and three days a week in print and has been operating as part of the employee-owned group, Folience, Inc. The Southeast Iowa Union was formed in 2019, a merger of The Washington Evening Journal, The Mt. Pleasant News and The Fairfield Ledger. It publishes two print editions per week.

“Media companies across the country are facing unprecedented challenges, and local journalism is no exception,” Pientok said in a statement. “We’ve been incredibly fortunate to have some of the most dedicated, talented, and award-winning journalists delivering exceptional coverage to our community for more than 140 years. In today’s environment, sustaining a 100 percent independent newspaper has become increasingly difficult.”

“From day one, our goal has been to preserve local journalism,” he continued. “Mark and his family have a long history and passion for local media. By aligning The Gazette with Adams MultiMedia, we’ve provided the opportunity for our community’s voice to continue to be heard and for local journalism to remain strong for years to come.”

Adams Publishing, founded in 2014, owns more than 120 newspapers and more than 220 media-related and associated digital products in 19 states across the country.

“We’ve considered dozens of news organizations in recent years, and I can say with utmost confidence that very few have come with the credibility and promise that we have here today,” Mark Adams said in a prepared statement to Gazette and Union staff. “The Gazette and its commitment to serving the local community — strong journalism and unmatched local business relationships — was a no-brainer for us.”

The purchase will be AMM’s first titles in Iowa. Adams owns titles in 19 other states, including Alabama, Delaware, Florida, Georgia, Idaho, Kentucky, Maryland, Minnesota, Montana, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Utah, Virginia, Washington, Wisconsin and Wyoming.

AMM will enhance the digital content for subscribers and offer expanded digital marketing and advertising solutions for local businesses. By deploying shared services, AMM will free up local resources to focus on serving the local communities.

Additional community newspapers included in the purchase are the Hometown Current, Marengo Pioneer Republican, Williamsburg Journal Tribune, Poweshiek County Chronicle Republican, Winfield Beacon-Wayland News, New London Journal, Pekin Clarion Plainsman. The acquisition also includes total market coverage shoppers including The Pennysaver, Hometown Marketplace and Southeast Iowa Shopper.