Tampa Media Group, a portfolio company of Revolution Capital Group, has acquired the Clearwater Gazette, a weekly newspaper serving various cities in Florida.
Clearwater Gazette serves the Florida communities of Clearwater, Dunedin, Largo, Belleair, Belleair Beach, Belleair Bluffs, Belleair Shore and Indian Rocks Beach. The company was founded in 1950 and is based in Largo, FL (www.clearwatergazette.com).
Revolution Capital Group formed Tampa Media Group in October 2012 to purchase The Tampa Tribune from Media General. The firm continues to seek acquisition opportunities within the newspaper industry.
“Tampa Media Group’s mission is to connect and strengthen communities. Therefore, we are very pleased to add Clearwater Gazette to our Tribune family of products. It joins the over 117 year old Tampa Tribune and the leading website in Tampa Bay, TBO.com. Clearwater Gazette is a perfect complement to our St. Petersburg Tribune as well. We look forward to better serving our new and existing readers with expanded coverage while working to strengthen the business community of Clearwater,” says Bill Barker, Publisher of The Tampa Tribune.
Revolution Capital Group seeks to invest in companies in the following sectors: media and publishing; manufacturing; telecommunications; software; business services; logistics; industrials; healthcare products and services; consumer products; distribution; oil and gas services; and IT products and services. The firm has offices in Los Angeles and New York (www.revolutionpe.com).
“The content and viewpoints of Clearwater Gazette mesh well with our existing portfolio of media properties in the region. In addition to that, it’s also an exceptionally well-run business,” says Jim Towers, a Senior Associate with Revolution.
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-8-13