WINSTON-SALEM — Winston-Salem City Council members Derwin Montgomery and James Taylor are directors of a company that has announced the purchase of the Winston-Salem Chronicle, a weekly newspaper that focuses on serving the black community in the city.
Montgomery and Taylor, the managing directors of the newly founded Chronicle Media Group LLC, said in a news release this morning that they would close the deal to buy The Winston-Salem Chronicle Publishing Co. by May.
Chronicle Media will continue to publish the Chronicle and work to put more focus on digital media as well as the print edition, Montgomery said.
The purchase price was not announced.
The Chronicle was founded by Ernie Pitt in 1974. The newspaper has an office on North Liberty Street.
Taylor will take the position of publisher when the deal goes through. In a news release, Taylor said he sees the acquisition as "the continuation of a great legacy started by the Pitt family over 40 years ago."
Montgomery represents East Ward and Taylor Southeast Ward.
In addition to the Chronicle, the purchase includes the For Seniors Only publication and other assets.