Youngstown Publishing Co. Acquired by Sapientia Ventures LLC
YOUNGSTOWN, Ohio – Controlling interest in the Youngstown Publishing Co., publisher of The Business Journal, has been sold to Sapientia Ventures, a local investment group committed to continuing the nearly 40-year-old publication’s grassroots business leadership and dedication to economic development.
Former majority owner Andrea Wood, who co-founded the company in 1984, will stay on as president and publisher. Michael Moliterno, chief operating officer, remains a minority shareholder.
“Readers, advertisers and supporters of The Business Journal will continue to receive the same high-quality journalism and uninterrupted business news coverage that they have come to expect. There will be no changes to our staff, whom the new owners recognize as the engine that drives the tenured success we’ve been able to achieve,” Wood says.
Wood says the new owners bring a strength in understanding the evolving technology that is changing consumers’ media habits. Their command of technology, she says, combined with The Business Journal’s core newsroom strength and captive audience, will lead to refreshed business models that prove more valuable to both readers and advertisers while ensuring the long-term growth of The Business Journal and its platforms.
Who is Sapientia Ventures?
Charles “Chuck” George, Wiley Runnestrand and Michael Martof are the founders of Sapientia Ventures. Each is a well-respected local entrepreneur and thought leader in the community whose business focus is on building and expanding innovative companies of all sizes.
“We have long admired the Journal as a cornerstone institution for professionals in the region. Recognizing the immense value it brings to our community, we leapt at the opportunity to invest in this top-tier publication,” George says. “We have complete faith in the talented team led by Andrea, and our vision focuses on building upon their impressive legacy. Together, we aim to continue delivering unparalleled business media to the region.”
About Sapientia Ventures
Sapientia Ventures, based in Warren, Ohio, represents a group of closely held private investments in active companies and real estate. The firm invests in companies and real estate primarily in the Mahoning Valley but has operations across North America.
About The Business Journal
The Business Journal is a locally owned and independently operated multimedia publisher based in Youngstown, Ohio, that focuses on the regional business community. To find out more about the Business Journal, visit www.BusinessJournalDaily.com or follow on Facebook, Twitter, Instagram, LinkedIn and YouTube.
Pictured at top: From left, Wiley Runnestrand, Andrea Wood, Charles “Chuck” George and Michael Martof.
Published by The Business Journal, Youngstown, Ohio.