WEHCO Media has acquired Stephens Media's 50 percent interest in Northwest Arkansas Newspapers, a joint operating agreement created between the two media entities in 2009.
WEHCO Media owns the Arkansas Democrat-Gazette and operates other newspapers in Arkansas, Tennessee, Texas and Missouri. Terms of the deal, announced Thursday, were not disclosed.
No changes are planned for the Northwest Arkansas Newspapers operation as a result of the transaction, WEHCO Media President and Chief Operating Officer Nat Lea said.
"We have enjoyed a wonderful working relationship and productive partnership with Stephens Media," Lea said. "We remain committed to publishing a superior newspaper in Northwest Arkansas and will miss Stephens Media's input."
Stephens Media announced in February 2015 the sale of its eight daily newspapers and more than 65 weekly and 50 niche publications and websites to New Media Investment Group Inc. as part of a $102.5 million cash deal. New Media's purchase of Stephens assets included the Southwest Times Record in Fort Smith and the Las Vegas Review-Journal.
At the time of the sale to New Media, Stephens Media retained its 50 percent interest in Northwest Arkansas Newspapers LLC.
Northwest Arkansas Newspapers LLC fused its five daily newspapers into the Northwest Arkansas Democrat-Gazette in January 2015. The merger was viewed as a way to streamline operations and eliminate duplication.
"WEHCO Media has been a tremendous partner for us in Northwest Arkansas. We look forward to following WEHCO Media's continued success," said Warren Stephens, chairman, president and chief executive officer of Stephens Inc.
Business on 05/06/2016