Dirks, Van Essen & April reports strong start to 2026 newspaper M&A market

While consolidation remains part of the story, what’s becoming increasingly clear is the diversity of ownership structures emerging across local media. We continue to see strong interest from operators focused on sustainability, local stewardship and operational scale.”

Sara April, president, Dirks, Van Essen & April

SANTA FE, N.M. — Dirks, Van Essen & April (DV&A), a leading merger and acquisition firm specializing in local media transactions, reports that newspaper M&A activity accelerated in the first quarter of 2026, with 78 newspaper titles changing hands across 18 transactions spanning 15 states.

The quarter reflected both increased transaction volume and a broadening mix of buyers entering the market. DV&A tracked 17 unique acquirers during the period, including traditional newspaper companies, nonprofit organizations, chambers of commerce and community-based ownership groups.

“While consolidation remains part of the story, what’s becoming increasingly clear is the diversity of ownership structures emerging across local media,” said Sara April, DV&A president. “We continue to see strong interest from operators focused on sustainability, local stewardship and operational scale.”

The largest transaction of the quarter was Times Media Group’s acquisition of 32 Texas publications from Moser Community Media, marking Times Media Group’s formal expansion into Texas. Other notable deals included Forum Communications Company’s acquisition of seven Upper Midwest titles from Wick Communications, USA TODAY Co.’s acquisition of The Detroit News from MediaNews Group, and Paxton Media Group’s purchase of nine Southeastern newspapers from Community Newspapers Inc.

The quarter also saw continued nonprofit and community-led ownership activity. NEWSWELL, a nonprofit affiliated with Arizona State University, acquired four Illinois newspapers, while chambers of commerce in Missouri and Louisiana stepped in to acquire local publications in efforts to preserve community news infrastructure.

In parallel with transactional activity, Lee Enterprises received a major $50 million investment from David Hoffmann, principal of Hoffmann Media Group, who also assumed the role of chairman of Lee’s board. The investment restructures governance, reduces borrowing costs and signals a more aggressive transformation strategy for the company, which operates across 72 markets in 25 states.

CherryRoad Media remained active during the quarter with acquisitions in both Missouri and Georgia, while O’Rourke Media Group, Gazette News Group, Franklin Group LLC and others expanded regional footprints through targeted local market acquisitions.

According to DV&A, the first quarter of 2026 outpaced the opening quarter of 2025, which saw 32 titles change hands across 12 transactions. Last year, DV&A tracked 173 titles changing hands across 62 transactions, reinforcing a sustained period of realignment within the local news industry.

At the same time, the firm noted that industry evolution extends beyond acquisitions alone. New product launches, nonprofit-led relaunches, print expansions and alternative ownership models continue to emerge alongside ongoing contraction and closures. DV&A recorded 14 newspaper closures during the quarter.

“As the industry continues to evolve, we’re seeing operators test new ownership models, partnerships and operational structures designed to sustain local journalism long-term,” said April. “The momentum in Q1 suggests this transition is far from over.”

For more information or to view DV&A’s Market Signals Quarterly Newsletter, visit dirksvanessen.com.

About Dirks, Van Essen & April:

Dirks, Van Essen & April is the leading merger and acquisition advisory firm serving the media industry, specializing in the sale, valuation and strategic transition of news and publishing organizations. The firm represents buyers and sellers nationwide, providing strategic counsel to independent operators, family-owned enterprises and large media companies.