A media company chaired by Milwaukee Bucks co-owner Wesley Edens has acquired Milwaukee publications The Daily Reporter and the Wisconsin Law Journal.
New York-based New Media Investment Group Inc. on Dec. 31 acquired the Business Information Division of Minneapolis-based Dolan LLC for $35 million. New Media is one of the largest publishers in the U.S., with 125 daily publications and 575 community publications, plus 490 community websites.
Dolan is comprised of 39 print and online publications, including The Daily Reporter, which reports on construction news and data, and the Wisconsin Law Journal, which covers news and information for lawyers and judges. Both publications are based at 225 E. Michigan St. in Milwaukee.
“We are pleased to announce the agreement to acquire the Dolan assets and see a tremendous opportunity to leverage its publications and subscriber base across New Media’s footprint,” said New Media CEO Michael Reed in a December SEC filing. “In addition to the valuable content Dolan provides to its readership base, we believe their subscribers, which are predominately service oriented business owners, are the ideal customer for our fast-growing digital services business, Propel Marketing.”
