Who's down on newspapers? | Arkansas Blog

Wednesday, January 6, 2010

Who's down on newspapers?

Posted By on Wed, Jan 6, 2010 at 2:46 PM

The $20 million sale of the Daytona Beach newspaper to an investment group to end a messy splitup of a shared ownership by a local family and Cox Enterprises would normally not be of much interest here.

But, there are local angles in the new owners:

According to court documents, the prospective new owners include former News-Journal classified advertising manager Michael Redding, who will be leaving his post as chief executive of HarborPoint Media to become CEO and publisher of the News-Journal; a family company led by Rupert Phillips, a Destin investor who has owned several newspapers, including The Daily Commercial in Leesburg; and Stephens Capital Partners, a private equity firm based in Little Rock, Ark., that also owns Stylemark sunglasses in Ormond Beach.

Stephens Capital Partners is the private equity arm of Little Rock's Stephens Inc., which is already in the newspaper business through the related Stephens Media. Phillips once owned newspapers in Arkansas.

But who knew Stephens owned Stylemark sunglasses? Not me. To shield your eyes from the bright flames of their Viking appliances, I guess. Forbes mentioned the holdings a while back.


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