Jones Media Group Buys TM Century
September 11, 2006 at 6:43 AM (PT)
JONES MEDIA GROUP is buying TM CENTURY in a merger deal that will leave TM CENTURY as a wholly-owned subsidiary of JONES. The deal involves JONES paying about $4.80/share to TM stockholders and is expected to close on SEPTEMBER 29.
JMG Pres. ROBERT W. HAMPTON said "we are pleased to be able to acquire such a quality company with experienced, strong and talented management. TM CENTURY has a long and distinguished history of providing quality products and services to a wide variety of media companies. I am sure that the combination of JONES and TM CENTURY will spawn new, exciting products and services and provide additional opportunities for the associates of each company."
TM CENTURY Pres./CEO DAVID GRAUPNER added "we were looking for a partner to take TM CENTURY to the next level and a partnership that would be a win-win-win, for our shareholders, our employees and our clients. With JONES, we got it all and then some. The JONES team gets it. They see the future of media more clearly, and more dynamically, than anyone else in the business. I haven’t been this excited about going to work in a long time."