Maine's biggest newspaper group is now a nonprofit under the National Trust for Local News

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The largest newspaper group in Maine is becoming a nonprofit with the completion of the sale of more than 20 daily and weekly newspapers, including the Portland Press Herald

PORTLAND, Maine — With advertising shrinking and newspapers vanishing, Maine’s largest newspaper group became the latest to try a nonprofit model with the completion of the sale of more than 20 daily and weekly newspapers, including the Portland Press Herald.

The National Trust for Local News, which already owns two dozen newspapers in Colorado, is expanding its portfolio through the purchase of five daily newspapers and 17 weekly newspapers that were part of Masthead Maine. Former Masthead owner Reade Brower retained ownership of several weeklies that weren't part of the deal.

The newspapers will now fall under the umbrella of the Maine Trust for Local News with the closing of the deal, announced Tuesday. Terms of the transaction were not disclosed.

The deal, which covers all of the state’s daily newspapers except the Bangor Daily News, represents a trend toward a nonprofit business model as newspapers continue to struggle.

“I wouldn’t say it’s sweeping the country but we’re seeing this trend. And it’s a healthy one. Commercial news organizations are struggling from loss of advertising revenue,” said Tim Franklin, senior associate dean and leader of the Local News Initiative at Northwestern University’s Medill School of Journalism.

The transformation from a commercial business to a nonprofit was a positive outcome compared to other alternatives including corporate ownership that could have been more focused on making making cuts to maximize profits, executives told Portland Press Herald employees at a meeting and celebration in South Portland.

“Too