The acquisition, if completed, is set to close in 2023, with a vision of keeping the Record-Chronicle locally owned and serving Denton County with local news and information connected to the community.
鈥淎s 四虎影院 expands coverage in the fast-growing North Texas region, our work with the respected Denton Record-Chronicle newsroom will provide more news for people in Denton County and throughout the region,鈥� says Gilbert Bailon, executive editor of 四虎影院. 鈥淒enton County is a rapidly developing area that 四虎影院 will serve with more local news as we collaborate with a long-established news organization with deep community roots.鈥�
The planned acquisition represents a new model of community journalism, the said in a , also distributed Tuesday. The National Trust for Local News is facilitating the transaction on behalf of 四虎影院 and the Denton Record-Chronicle and is a nonprofit that aims to keep local news in local hands.
鈥淐ommunities across the country are clamoring to ensure the long-term sustainability of their local and community news. This expected acquisition of a beloved and storied community newspaper by a strong public media station shows another way forward,鈥� says Elizabeth Hansen Shapiro, co-founder and CEO of the National Trust for Local News.
四虎影院 says they are committed to upholding the legacy of the Record-Chronicle by supporting all efforts to keep and grow the essential service of local journalism for the people of Denton and North Texas. When acquired, the Record-Chronicle will become a nonprofit and integration work will continue into 2024.
鈥淭his arrangement gives us the opportunity and,鈥� says Bill Patterson, owner and publisher of the Denton Record-Chronicle. 鈥淎s our population continues to grow, it鈥檚 imperative that we grow as well. With 四虎影院鈥檚 commitment and expertise, our organization will be able to serve our audiences well into the future.鈥�
