Chicago investors buy weekly in Canton

After more than 40 years of ownership by the Steinbeck family, the Press-News Journal in Canton has been sold to Chicago-area investors Bob Ely and Phil Calian.
“We’re not going anywhere. We have the same staff. We’ll have the same news product. We’ll carry the same brand name,” said Dan Steinbeck, the Press-News Journal Editor.
“Phil and I have been looking to purchase a weekly Midwest newspaper for the past three years. The Press-News Journal is our first purchase,” said Ely.
“The Press-News Journal is a quality product with exceptional community relationships, a true tribute to the skills and love … the entire Steinbeck family invested in building the newspaper and supporting Lewis County the past 42 years.
“We are pleased we are able to work with the Steinbecks to continue their stewardship of the paper,” Calian said. “Counter to the thoughts of many Wall Street types, we believe small newspapers — especially those who know how to embrace their community and
provide relevant news and local information — have great futures. The opportunity for many of these newspapers, including the Press-News Journal, is to marry readers and advertisers and their modern on-line habits with a weekly newspaper product,” Calian said.
The print version will continue, but the website will be expanded, the owners said.
Last year the Press-News Journal offered on-line as well as print full-issue subscriptions.
The May 30, 1968, Canton Press-News and Lewis County Journal told of the purchase of those two newspapers by JoAnn Steinbeck and the late David Steinbeck from the late L.L. and Thelma Dimmitt.
All three Steinbeck children – Dan, Deanna Schmidt, and Jennifer Pegler, and their spouses and children – have worked at the paper.
Steinbeck is current editor/publisher. Pegler is office manager. JoAnn Steinbeck has been the bookkeeper.
The sale was coordinated through Julie Bergman of W.B. Grimes & Company Media Mergers and Acquisitions.
—Press-News Journal

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