Community Newspaper Holdings, Inc

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Community Newspaper Holdings, Inc. (CNHI) is an American publisher of newspapers and advertising-related publications throughout the United States. The company was formed in 1997 by Ralph Martin, and is based in Montgomery, Alabama (after moving from Birmingham, Alabama in September 2011). The company is financed by the Retirement Systems of Alabama. The company has been formed by acquisitions. It started by acquiring many of the smaller former Park papers from Media General. Two years later, it bought several papers from Hollinger International. In 2000, it acquired another batch of papers from the Thomson Corporation. In 2002, CNHI paid $182 million for 4 daily newspapers and other non-daily publications from Ottaway Newspapers Inc., the community newspaper group of Dow Jones & Co. Inc., that Ottaway had determined not to be growth markets. In 2006, the company acquired 6 more newspapers from Ottaway. Ottaway used $144 million of the 2002 sale to buy the Record newspaper in Stockton, California, in 2003. In September 2013, Dow Jones, which had renamed the properties as Dow Jones Local Media Group, sold the entire remaining group of 33 community newspapers to Newcastle Investment Corp. for a total of only $87 million. In 2007, CNHI sold the Santa Cruz Sentinel, a former Ottaway publication, to MediaNews Group.