NJBIZ’s parent company sold to GateHouse Media

Journal Multimedia, the parent company of NJBIZ, has been sold to GateHouse Media, the company announced Wednesday.The deal is expected to close in late April or early May.

GateHouse Media, based in Pittsford, New York, owns more than 500 newspapers in 31 states. NJBIZ will be its first property in New Jersey, according to its website.

“This is a great opportunity for all of our brands under the JM umbrella,” said David A. Schankweiler, founder and CEO of Journal Multimedia. “I’m excited for the new opportunities for our readers and advertisers.”

Journal Multimedia, based in Harrisburg, Pennsylvania, owns and operates seven business units, including NJBIZ. It is also the publisher of Lehigh Valley Business, the Central Penn Business Journal, Central Penn Parent and Pet Age magazine and owner of Best Companies Group and FGV Media.

GateHouse Media is a unit of New Media Investment Group, a publicly traded company based in New York City.