It was announced earlier this week that David Black, the president and majority owner of Black Press Media, is retiring after nearly a half century in Canadian print media.
Black founded the company that bears his name in 1975. Starting from humble beginnings, owning The Williams Lake Tribune, the company has expanded to now own more than 170 newspapers and outlets in B.C., Alberta, Canada’s North, and in the United States.
In addition to leading the company, Black also served on the board of the Canadian Community Newspaper Association and as a governor of the Canadian Newspaper Association. The two organizations merged to form what today is News Media Canada.
On the same day Black announced his retirement the company announced plans to move to new ownership.
“This plan will lead to a stronger, more sustainable Black Press that will continue to provide by far the best local Canadian and American news coverage in our markets and the best ways for advertisers to reach their customers,” Glenn Rogers, chief executive officer of Black Press, said in a statement.
The new ownership group would include Canadian institutional investors, including: Canso Investment Counsel, Deans Knight Capital Management and Carpenter Media Group.
“Canso, Deans Knight and Carpenter Media have been true partners throughout this process as we’ve built a plan that we believe is the right way forward for Black Press,” Rogers said.
Black Press said it plans to continue operating its publications during the restructuring process.
