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News in the persecution of the truth

Business & Economy

Local investor to buy Bennington Banner, Bratterboro Reformer and Manchester Journal

New England Newspapers Inc. sells three newspapers in Southern Vermont to Guilford Resident Paul Belognour.

Corporate President Fredric Rutberg announced Tuesday that the Bennington Banner, Manchester Journal, Bratterboro Reformer and the Upcountry Magazine are divided with Berkshire Eagle, which is located in Pittsfield, Massachusetts, in Rutberg in Berkshire Eagle, a daily newspaper , is resident. The banner and the reformers are Dailies. The journal is a weekly.

"Honestly, it's very difficult to engage me in Vermont," Rutberg said. "The distance between Berkshires and Southern Vermont is much bigger than it looks on the map. And Covid made that clearer."

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Rutberg said Belognour approached a few months ago, and he was open to the idea and believed that local property and control for the publications and communities will be better. He said the movement is useful in terms of daily operation of the publications, and that the decision was not financially based.

"NENI will come out in an even stronger financial position from this transaction than it was addressed by Vermont News and Media," he wrote in an internal memo to the staff received by VTDigger.

belongs, a local investor, buys the publications under the name Vermont News and Media LLC, a company he made for the purchase. The sale is expected to close May 14th.

In his letter to the staff Rutberg said that all employees will stay at the three newspapers on the spot. The Berkshire Eagle will continue to print the papers for the next five years. For the next year, advertising, customer service and coordinate cycle will continue to provide.

"Both Neni and media will be better and are better and are stronger if their counterpart enjoys a similar success, so for this reason, they are in possession of my colleagues, the board and the management to pledden all To make this transition as smoothly as possible, and the support of Vermont news and media succeed in every respect, "Rutberg wrote Tuesday to the staff on Tuesday.

belongs founded a software company, Boston Unisoft Technologies and Bratterboro-based Vermont Innovation Box, which offers the company with cooperative workspace. He has a contribution of $ 3.95 million on Southern Vermont College during an auction in the Federal Competency Court in December.

Belognour could not be reached Tuesday for the comment.

Stephen Terry, a former business-related editor of Rutland's herald, looks closely at the trends in the media and said he did not know about Belognour. He said, however, the acquisition can be part of a larger trend, in which citizens and groups buy publications to get local journalism.

Patrick Bald-Shiong bought the Los Angeles Times in 2018 and the San Diego Union Tribune, for example, and businessman Stewart Bainum Jr. is working to acquire the Baltimore sun. On Monday, the Colorado Sun announced that it had worked with a national non-profit, the National Trust for Local News to buy 24 local newspapers under the new name of the Colorado News Conservancy.

In Charlotte, Vermont, a group of national well-known journalists begins a new, well-known weekly paper, the bridge, with a reporter who has resigned from the Charlotte messages after increasing ethical concerns about the organization.

Terry showed on the predecessor of New England Newspapers, Inc., from 1891 to 1995, from the Muller family of 1891 owned by the Medianews Group, which was based in Denver. Then 2016 bought a group of Berkshire-based investors, including Rutberg, the papers bought.

It is important for investors without journalism experience to follow the leads experienced employees, Terry said.

"It seems to give movement throughout the country, and it has a resonance in Vermont that local journalism is an important factor and helps us get democracy," Terry said.

In the meantime, in the meantime, in Windham County, employees of local investments, which go wrong, can be fresh. The southern Vermont papers recently covered a situation in which Seth Andrew, a former Obama-White House official who had told higher education on the former Marlboro College, had stolen $ 200,000 from a charter school network, which he had stolen founded. Andrew was charged with wire fraud and money laundering.

Rutberg said he is confident in Belogours skillset, interest and local roots.

"Paul has a home in Guilford, Vermont, and he has made several significant investments in Southern Vermont," he wrote to the staff. "He becomes the kind of local property, control and investment in Vermont publications such as Bob Warmers, Hans Morris and I with the Berkshire Eagle."

Hans Morris, New England Newspapers Inc.s Chairman, Echoed Rutberg's Comments and Trust in Belogour in a statement.

"He clearly has the love of high-quality local journalism, and the skills and resources to ensure the essential role of the reformer, the banner and the journal will thrive in these communities," he said.

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