BENNINGTON, Vt. — Three southern Vermont newspapers — the Bennington Banner, Brattleboro Reformer and Manchester Journal — are being sold to a software and currency trading entrepreneur with a number of businesses in the region.
The daily Bennington and Brattleboro papers and weekly Manchester publications have been operated by New England Newspapers Inc., which also publishes the Berkshire Eagle in Pittsfield, Mass.
They are being sold for an undisclosed sum to Paul Belogour of Guilford, Vt., who earlier this year incorporated Vermont News and Media LLC, according to published reports.
The deal is set to close on May 14. New England Newspapers will continue to print the Vermont publications for at least the next five years. Belogour is also buying UpCountry magazine, which is distributed in Berkshire County and southern Vermont.
Belogour, reports said, has told staffers at the Vermont papers they are all being retained.
New England Newspapers in 2016 purchased the Berkshire Eagle from Alden Global Capital, a large hedge fund that has been investing in newspapers nationwide, often cutting staff and other expenses in order to increase profits. They are current in talks to buy Tribune Publishing, which runs a number of papers including the New York Daily News, Chicago Tribune and Baltimore Sun.
The local owners, since buying the Berkshire Eagle from Alden, have invested in the paper, which won a 1973 Pulitzer Prize for editorial writing. They have hired staff and added content.
A native of Belarus, Belogour attended Northeastern University in Boston on a rowing scholarship, reports said.
He went on to start a foreign exchange firm, CBFX, which was later sold. He then developed a currency exchange trading platform. Vermont newspapers noted that he owns a brewery and real estate in the area.
Neither Belogour or a spokesman for New England Newspapers Inc. could be reached Thursday for comment.
rkarlin@timesunion.com 518 454 5758 @RickKarlinTU
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Vermont papers sold to local businessman - Times Union
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