The Manteo-based Coastland Times will be sold to a group of southern newspaper publishers, the Times reported in its Oct. 18 edition.
The front page story stated that the newspaper’s longtime owners — the Meekins family — had reached an agreement in principle to sell the publication to Outer Banks Newsmedia, LLC. The majority owner of that company is Steve Stewart, vice president of Boone Newspapers Inc. of Tuscaloosa, Alabama. Other stockholders include the publisher of the Tidewater News in Franklin, Virginia; the publisher of the Suffolk (Virginia) News-Herald; and Carpenter Newsmedia of Natchez, Mississippi.
The Oct. 18 story indicated that the buyers are currently conducting the due diligence phase of the transaction, which is expected to be finalized by Dec. 1. Stewart is quoted as saying, “Our goal is to build on the excellent foundation laid by the late Francis Meekins and his children, Susan, Warren and Holly who have been most gracious as we have worked together on the sale.”