Gold Mountain California News Media has acquired several local newspapers from Brehm Communications. They include the Hi-Desert Star, Desert Trail, Desert Mobile Home News, Big Bear Grizzly and Lake Arrowhead Mountain-News, according to Hi-Desert Star. The Yucca Valley printing facility is also included. News Media is also purchasing six BCI newspapers published in the Sacramento area: the Auburn Journal, Folsom Telegraph, Roseville Press-Tribune, Placer Herald, The Loomis News and Lincoln News Messenger.

Third Quarter Highlights *Delivered sales of $3.9 billion, up 16.9%, compared to the third quarter of 2021 on a reported and daily basis; up 20.3% on a daily, constant currency basis *Expanded gross margin by 145 bps compared to the third quarter of 2021 *Generated operating earnings of $603 million, up 37.6%, resulting in diluted EPS of $8.27, an increase of 46.4% versus the third quarter of 2021 *Produced $380 million in operating cash flow and returned $286 million to shareholders through dividends and share repurchases

There has been little growth in total publishing sales in recent years in the U.S. and in most Western nations, and that difficult operating environment was reflected in the financial performance of three of the world’s largest publishers that have substantial holdings in the U.S. Penguin Random House and HarperCollins had small (less than 1%) declines in revenue in 2017 compared to 2016, while Lagardère Publishing’s sales inched up 1.1%. Simon & Schuster and Houghton Mifflin Harcourt’s trade division—the two smallest of the large publishers who report financial results—both did substantially better on both the top and bottom lines than their bigger rivals. Click Read More below for additional information.