The 707
Napa Valley Register sold to Florida media group Napa Valley Publishing Company, which publishes the Napa Valley Register among other Napa Valley publications, has been sold to Florida-based Hoffmann Media Group. Terms of the sale between Hoffmann and Iowa-based Lee Enterprises, which owned NVPC, were not disclosed. In addition to the Register , Hoffman also acquired the American Canyon Eagle , the Weekly Calistogan , the St. Helena Star , Napa Valley magazine and Distinctive Properties magazine. The Register, Star and Calistogan are legacy print media in the North Bay; all three were established between 1860 and 1880. The Napa Valley Register had been a
daily newspaper until 2023, when the company cut back its print edition to three days a week. Hoffmann announced the sale Sept. 30 in a press release at hoffmannmediagroup.com .
“This acquisition not only strengthens our investment in the Napa region but also aligns perfectly with our strategy to enhance local news media,” said Geoff Hoffmann, co-CEO of Hoffmann Family of Companies. “By integrating Napa Valley Publishing into our portfolio, we are committed to covering stories that matter to local communities and fostering a sense of unity and connection among residents. We aim to bring people together through quality journalism and community-focused content.” “We’re pleased to bring Napa Valley Publishing back under family ownership,” Pason Gaddis, CEO of Hoffmann Media Group, said in its announcement. “For nearly 162 years, this institution has been an integral part of Napa Valley’s identity— NBb staff
Last round up for iconic Cattlemens restaurant in Petaluma The days of the “bean girl,” salad-dressing boat and massive plates of meat are over in Petaluma. Cattlemens steakhouse is closing after more than five decades of belt-loosening meals in River Town. The location at 5012 Petaluma Blvd. North, which launched in 1970, plans to close by the end of the year, company spokesperson Miranda Smith said in a statement. The owner of the 3-acre site where Cattlemens has held its lease received city approval last year to demolish the 9,000-square-foot restaurant building and replace it with a Chick-fil-A. Staff at the Petaluma location will have an opportunity to transfer to other locations; the nearest being 4619 Redwood Drive in Rohnert Park. Founded in 1968, Cattelmens currently has eight locations throughout Northern California.— JW
Sonoma County touts progress on pension liability Sonoma County’s “pension tension” is finally easing up a bit—as the county’s unfunded pension liability has been reduced by 37% since 2020, according to a report. The county’s unfunded pension liability—the gap between the assets in the pension plan for County of Sonoma employees and the amount owed to retirees—dropped to $392 million in June 2024, down from $625 million at the same point in 2020. The progress is the result of “strong investment returns” and the county’s decision to make early payments on the pension debt, thus saving interest costs, according to the sixth annual State of the Retirement System report released Oct. 22. The county’s pension system supports 4,242 active employees, 5,760 retirees and beneficiaries, and 1,765 former employees who have not yet started collecting benefits. The pension plan for county employees contained $3.5 billion in assets at the end of 2023, up from $3.31 billion at the end of 2022. It was 93.9% funded as of Dec. 31, 2023, up from 92.4% a year earlier. “In comparison, CalPERS, the retirement system for state workers, was 75% funded at the end of the 2023-24 fiscal year last June,” county officials pointed out in an announcement of the report. Check out the full report at sonoma-county.legistar.com .— JW
12 NorthBaybiz
November 2024
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