April 8th, 2013
TAMPA MEDIA GROUP COMPLETES ADD-ON ACQUISITION OF CLEARWATER GAZETTE
Revolution Capital Group is pleased to announce its portfolio company, Tampa Media Group, has acquired Clearwater Gazette—a weekly newspaper serving the Clearwater, Dunedin, Largo, Belleair, Belleair Beach, Belleair Bluffs, Belleair Shore and Indian Rocks Beach communities. This add-on follows the launch in January of The St. Petersburg Tribune, a new daily newspaper serving St. Petersburg, Florida. Clearwater Gazette marks Revolution’s fifth acquisition since inception.
“For six decades, Clearwater Gazette has been an influential and important voice in the community, and we’re impressed with the quality of the publication put together by the owners, Chuck and Sandy Pollick,” says Gary Alcock, Managing Director of Revolution Capital Group.
The purchase of Clearwater Gazette and its integration into Tampa Media Group illustrates the acquisition growth strategy employed by Revolution as it seeks to unlock the full potential of its portfolio companies.
“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.
Under Chuck and Sandy Pollick’s ownership, Clearwater Gazette has remained committed to providing superior local news while helping to promote local businesses in Pinellas County.
"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 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.
About The Tampa Tribune
The Tampa Tribune has been Tampa’s hometown newspaper for more than a century. TBO.com, the newspaper’s associated web site, was one of the first local media internet sites when it launched in 1994. In 1975, the newspaper moved into a new facility on Parker Street, where the operations reside today. The Tampa Times, an evening newspaper, merged into The Tampa Tribune in 1982.
About Clearwater Gazette
Founded in 1950, Clearwater Gazette started as a small island newspaper, and now serves Clearwater, Dunedin, Largo, Belleair, Belleair Beach, Belleair Bluffs, Belleair Shore and Indian Rocks Beach communities. The newspaper’s mission is to provide quality local news while helping to promote local businesses in Pinellas County. See their website for more details www.clearwatergazette.com.
About Revolution Capital Group
Revolution Capital Group was formed by a group of private equity, M&A and operational executives. The partners have worked on over $15 billion in transactions with corporations such as AT&T, BASF, Bayer, General Electric, Hays PLC, IBM, Lucent, Motorola, Universal Group and Williams Communications. Additional information is available on the company’s website www.revolutionpe.com.
Contact Revolution Capital Group
Inquiries regarding Revolution Capital Group should be directed to Gary Alcock, Managing Director, at 310-229-0806 or firstname.lastname@example.org.