Martha's Vineyard Landmark Changes Hands

A prominent community newspaper changed hands on Friday.

A philanthropist couple bought the Vineyard Gazette on the island of Martha's Vineyard for $2 million.

Jerome and Nancy Kohlberg became the fourth family to own the newspaper since it was founded more than 160 years ago

Richard Reston retired as the Vineyard Gazette's publisher on Friday which ended four decades of ownership by his family.

Reston says he knows the Kohlbergs will preserve the principles of the enduring chronicle of Vineyard life.

"I think those principles now are in very good hands, and the Gazette will go on and flourish as it has in 164 years of unbroken publication," Reston said.

The Kohlbergs will also give $1.5 million to the Martha's Vineyard Preservation Trust to buy and preserve the Revolutionary War-era building the houses the Gazette offices and printing press.

This program aired on November 26, 2010. The audio for this program is not available.


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