All Island Media, a New York-based publisher, has acquired Pennysaver Inc., the Hanover-based publisher of the Maryland Pennysaver shopping circular, All Island Media said Wednesday. The sale price was not revealed.
The Maryland Pennysaver, the largest mailed weekly shopping publication in its market, is distributed to more than 830,000 homes and businesses in suburban Baltimore and eastern Maryland.
The acquisition, which closed Friday, will bring All Island Media's total corporate circulation to nearly 1.7 million. That figure includes the company's circulation on Long Island, where it publishes Pennysaver and Town Crier as well as special-issue publications.
Ron Rudolph, chief executive officer of All Island Media, said in a statement that the company expected to increase the page count of Maryland Pennysaver and launch monthly and seasonal specialty advertising products. The product, started 32 years ago, currently allows advertisers to promote either marketwide or in hyperlocal markets.
Pennysaver Inc. has more than 80 employees at the Hanover location, said Chet Cleaver, president and chief operating officer.
"We're not looking to make any changes," Cleaver said.