Two media organizations that own dozens of newspapers and television stations around the nation are announcing a merger.
Community Newspaper Holdings Inc. said in a statement Monday that it and Raycom Media Inc. have agreed to merge into a new privately owned media group.
Montgomery, Alabama-based CNHI owns more than 110 newspapers, websites and publications in 22 states.
Raycom Media, also based in Montgomery, owns or operates 65 television and two radio stations in 20 states.
Under the merger agreement, CNHI will operate as a Raycom Media subsidiary.
The merger is expected to be completed Sept 29.
In seven cases where markets for Raycom Media broadcast stations and CNHI newspapers overlap, the newspaper properties will be sold to a third party.
Both Raycom and CNHI are financed by the Retirement Systems of Alabama.