The National Trust for Local News has announced an agreement to acquire the Vermont Community Newspaper Group. The amount was not disclosed in the sources.
National Trust for Local News CEO Tom Wiley described the deal as closer to a donation than a traditional purchase, according to Sophie Culpepper, writing for Nieman Lab. The Trust is paying a nominal fee to acquire the papers, Culpepper reported.
Wiley said VTCNG currently operates near breakeven, though market forces have increasingly challenged the group's financial performance.
The owners said selling to the Trust would allow the publications not only to survive, but to receive investment in expanding coverage.