SANTA CLARITA, Calif.--(BUSINESS WIRE)--Pledging to strengthen its partnership with the local community and broaden its support of area commerce, a southern California investment firm announced today that it has acquired all the assets of Newhall Newspapers Incorporated and Signal Multimedia, the company that publishes the Santa Clarita Valley Signal and its online affiliate signalscv.com.
Paladin Multi-Media Group, Inc., whose principals are accomplished former news and digital media executives, will assume control of Signal’s operations from Morris Multimedia Inc. on January 1, 2016. Paladin managing partner Charles F. Champion, who is a seasoned newspaper executive, will become the new President and Publisher of the Signal.
According to Champion, the Signal’s work force will remain largely intact. The company currently employs 40 people across its editorial, advertising sales, circulation, digital and production departments. The current Publisher at the Signal, Russell Briley, will remain as a major shareholder and serve the company as Executive Vice President of community relations and audience development.
Champion asserted that Paladin wants to build on the paper’s award winning news platform to attract a wider audience and become a stronger vehicle for advertisers who are developing business in the local area.
For its part, Charles H. Morris, Chairman of Morris Multimedia, said he is pleased to put the Signal in the hands of people who care deeply about the editorial product and are prepared to help the Signal move to the next level in today’s complex market for media services.
“We are so grateful for the many years of support we received from our readers. This is a news savvy locality and we’ve been honored to serve it over the last 30 years. Chuck Champion and his team are poised to lead the Signal to a very successful future and we wish them well.”
Champion grew up in southern California and started his newspaper career with the Valley News and Greensheet / Daily News of Los Angeles. He went on during his 25-year newspaper career to serve as an executive with the Orange County Register, Chicago Sun-Times, the Philadelphia Inquirer and Daily News, and Access Media, Inc.
His partner, Gary Sproule, who will assume the role of Chief Operating Officer after the transaction officially closes, made his mark in digital media. He is the former CFO of Disney Interactive. He was COO of WhatsHotNow.com and Magnet Interactive. He was also COO of Unocal’s 76 Retail Products Company where he was responsible for the “76” brand in 3000 locations covering 23 States. He and Champion built Youbet.com, an internet gaming platform, into a billion-dollar business that was eventually acquired by Churchill Downs, Inc. Sproule was subsequently CFO of Mobile Messenger, a content developer and distributor.
Briley has been in the newspaper business in Los Angeles and Ventura Counties for virtually his entire career. Half that time he spent in circulation with the Los Angeles Times and Daily News of Los Angeles. The last 17 years he has worked in general management and business development with local papers. He joined the Signal in 2012 as Director of Circulation and was appointed the paper’s Publisher in 2013.
According to Paladin, Briley is one of the “assets” that attracted them to the deal. “I’ve known Russ since our time together at the Valley News and Greensheet,” said Champion. “He is a respected newspaper executive who has extraordinary business and management skill. We are delighted that his expertise can now be directed full time to the area where he has been a resident for 33 years.”
In his new role, Champion will run day-to-day operations of the paper concentrating his energies in news, digital and advertising areas. Briley will concentrate on growing the audience for the paper’s local news. Most importantly, Russ will continue his efforts to bring awareness to the work of local charities and municipalities.
Paladin, like many other media investors, has concentrated on properties that focus on well defined communities with closely aligned news and information needs. In an era of personalized news consumption, community newspapers are more influential than ever. They represent the confluence of technology and content at a hyper local level.
According to Champion, these developments define the Signal’s mission for the future. “We need to be the area’s first resource for news and commerce,” he said. “That means we have to be insightful reporters as well community advocates. Russ and his team have already established those qualities so we have many positives to build on.”
Paladin has amassed a Board of Directors consisting of experienced media executives that Signal will be able to tap for counsel on content and business development. Joining Champion, Sproule and Briley at the onset are Joseph Barletta, former Chief Executive Officer of the Chronicle Company, publishers of the San Francisco Chronicle; Thomas Culligan, consultant, former chief revenue officer of the Washington Times and an executive with the Chicago Tribune; and growth strategy consultant Robert Brierley, who is currently President of Aircuity, Inc. in Newton, Massachusetts.
About Paladin Multi-Media Group
Paladin Multi-Media Group, Inc. is a California-based firm that invests in media companies with targeted high growth prospects. The firm focuses on properties that have established readership, under developed digital assets, and/or substantial online reach. The company’s objective is to provide capital and intellectual property resources as a way to facilitate expansion and commercial growth.
