One of OntarioÔÇÖs longest, continuously owned community newspapers is going to remain in its founding familyÔÇÖs hands for the foreseeable future.
Members of the Macdonald family announced Monday that they had concluded a reorganization which would see two of the four brothers maintain ownership in the Alexandria (ON) Glengarry News.
The family has owned The News since its inception in 1892. The founding publisher and editor was Lt. Col. A.G.F. Macdonald. He was succeeded by his son Eugene in 1944.
In recent times, ownership of the publication has been maintained by Eugene MacdonaldÔÇÖs four sons, Garth, Alan, Kevin and Neil, each of whom controlled equal shares.
Under the reorganization announced this week, the newspaperÔÇÖs president, Kevin Macdonald, will become principal owner with brother Neil retaining his share of the business. Brothers Garth and Alan will have a reduced interest in the business.
The new principal owner, Kevin Macdonald, said the restructuring lifted a considerable burden off the shoulders of all four brothers, who had been fielding offers since it was announced in January 2002 that the newspaper would be available for sale.
ÔÇ£We had several serious bids to consider,ÔÇØ he said of the 21-month process, ÔÇ£but when it really came down to accepting one of those offers, there was a strong desire within the family not to sever our connection at this time.ÔÇØ
(This item originally ran in October 1 issue of the Alexandria (ON) Glengarry News.)