QUINCY — The Quincy Herald-Whig and Hannibal Courier-Post have been sold to Phillips Media Group LLC, headquartered in Arkansas. The sale is expected to close with Phillips becoming the new owner on Monday, March 1.
The announcement was made by Quincy Media Inc. President and CEO Ralph M. Oakley and Phillips Media Group President Jim Holland in a news release Friday. The sale ends the almost 95 years of publishing The Herald-Whig by Quincy Media Inc., which changed its name from Quincy Newspapers Inc. in 2016. QMI purchased the Hannibal Courier-Post in 2019.
“The newspaper business is changing dramatically,” Oakley said in the release. “That, along with our decision to leave the media business entirely is the driving force in this decision.”
Quincy Media announced recently the sale of its television and radio stations, including WGEM AM-FM-TV to Gray Television. That sale, subject to federal regulatory approval, is expected to be complete in the second or third quarter of 2021.
“While it was certainly a difficult decision for us, we are very pleased to sell these important newspapers to a longtime publisher such as Phillips Media. It is a great outcome for our region and for the employees who will continue on with Phillips,” Oakley said.
Ron Wallace, who has served as vice president and publisher of The Herald-Whig and Hannibal Courier-Post since 2013, will continue in that role.
“We appreciate the trust that the Oakley and Lindsay families have placed in us as the group to continue covering the news and community milestones for the subscribers of The Herald-Whig and Courier-Post,” Phillips Media Group President Jim Holland said in the release.
Quincy Media began as Quincy Newspapers Inc. in 1926, with the merger of The Quincy Herald and Quincy Whig-Journal. That merger brought together the Oakley and Lindsay families, whose descendants continue to be involved in ownership, board service or working in the company to this day.
“While it is the conclusion of our two families’ involvement, The Herald-Whig and Courier-Post will continue on as important providers of news and community service for the entire region,” Oakley said.