Gannett Pacific buys Pennysaver

Advertiser Staff

The Honolulu Advertiser's owner, Gannett Pacific Corp., said yesterday it will acquire Pennysaver, an O'ahu classified publication, from Hawai'i Publications Inc., the owner of the Maui News and a subsidiary of Ogden Newspapers of Wheeling, W.Va.

Pennysaver, which calls itself "Hawai'i's No. 1 Classified Paper," distributes 50,500 free copies weekly at 800 locations.

Gannett Pacific President Michael Fisch said Pennysaver's 12 employees, including general manager Joe Grimes, will be offered jobs with Gannett Pacific.

Fisch did not disclose the terms of the purchase.

"We're very pleased to be able to add Pennysaver and their fine employees to our growing community newspaper group," said Fisch, who is also publisher of The Advertiser. "The Pennysaver provides us a new dimension of classified advertising offerings in the community."

Fisch said that "eventually there will be some restructuring of the operations, to achieve efficiencies in the area of technology and production processes, but all employees will be retained to manage the growth of the company."

He said the Pennysaver, which had been printed by Midweek Printing Inc., publisher of the Honolulu Star-Bulletin, will be printed on Gannett Pacific presses.

Grimes, in addition to his continuing duties at Pennysaver, will become the general manager of Gannett Pacific's PMP Publications, which puts out three free community newspapers — Ka Nupepa, Leeward Current and the West Oahu Current, Fisch said. Gannett Pacific purchased PMP in March.