Richard M. Scaife, chairman of the newly formed Westminster Holdings Inc. (WHI), has agreed to acquire the stock of Trinity Holdings Inc., owners of the Pennysaver Publications of Pennsylvania Inc. and Gateway Press Inc.
Scaife named Pittsburgh Tribune-Review General Manager Ralph J. Martin president and chief operating officer of WHI.
Scaife, through the Tribune-Review Publishing Co., also publishes the Pittsburgh Tribune-Review, the Tribune-Review of Greensburg, the Valley News Dispatch of Tarentum, the Valley Independent of Monessen, the Leader Times of Kittanning, the Daily Courier of Connellsville, The Herald of Aspinwall and the Blairsville Dispatch.
"This is our first acquisition for WHI and it is one we are excited about," Martin said. WHI was formed to look for business opportunities in the Greater Pittsburgh and western Pennsylvania area that represent tested business models with future growth potential.
Pennysaver Publications of Pennsylvania Inc. publishes the Pennysaver and the Super Pennysaver, which together are distributed to more than 700,000 households in the Pittsburgh area.
Gateway Press publishes 18 community newspapers in the Pittsburgh area: the Advance Leader in Oakmont-Verona; the Advance Leader Star in Plum; the Beaver Valley Star in Monaca; the Beaver Valley Star in Vanport; the Bridgeville News Star; the Coraopolis Record Star; the Cranberry Journal Star; the Moon Record Star; the Murrysville Star; the North Hills Star in Ross; the North Hills Star in Pine; the Norwin Star; the Progress Star in Penn Hills; the Progress Star in Woodland Hills; the Sewickley Star; the Signal Item Star; the South Hills Record Star; and the Times Express Star.
The transaction is expected to be completed over the next several weeks.
