Paddock's Town Square acquires Kansas-based chamber guide company
Arlington Heights-based Town Square Publications has acquired Metro-Media Inc. of Fairway, Kansas, making Town Square the nation's largest publisher of chamber of commerce guides.
The acquisition was announced Wednesday by Paddock Publications, owners of Town Square. The closing took place late Tuesday. Paddock also owns the Daily Herald.
"Paddock Publications has long been considered one of the best newspapers in the United States and a success story in the newspaper industry," said Paddock CEO and Chairman Douglas K. Ray. "Now that same commitment to excellence is on display in Paddock's Town Square marketing division.
"Virtually every week a new chamber of commerce and community relationship is developed, providing a portfolio of marketing support for sales and new products -- everything from community guides, maps and directories, online marketing, to a welcome home move-in source book. With the acquisition of MetroMedia, we are the largest in the business, but more importantly proud to be considered the best partners to our chambers."
The acquisition broadens Town Square's chamber relationships across the country, adding in particular to partnerships in states such as California and Texas.
Unlike with past acquisitions by Town Square, MetroMedia will remain a stand-alone division of Town Square.
The staff of MetroMedia will be led by David Small, the former co-owner and a veteran of the chamber publishing industry. He will remain based in Kansas.
"We are thrilled to be joining the team at Daily Herald Media Group and Town Square," Small said. "Our entire group is excited about combining our business with a first-class organization. There are tremendous synergies between our two groups, and we look forward to providing outstanding value to our new owners."
This purchase, as with others in recent years, is in keeping with Paddock's strategy to diversify the employee-owned company. The decision to expand beyond the daily newspaper business has brought revenue growth and profitability in an era in which the newspaper industry in general has been challenged by losses from traditional revenue sources.