Continuing its expansion into the news realm, EWTN Global Catholic Network has signed a letter of intent to acquire the National Catholic Register, the nation's leading Catholic newspaper.
Under the terms of the transaction, no cash will be exchanged between the parties, with EWTN taking over the ongoing operational expenses of the National Catholic Register and the assumption of its future subscription liabilities.
The acquisition of the weekly follows the partnership EWTN entered into with the Catholic News Agency last year, which has Catholic news media outlet with bureaus in North and South America and Europe. Under that agreement, EWTN and Denver-based CNA, which has news bureaus in North and South America and Europe, are sharing news resources and have created a joint news service found at www.ewtnnews.com. That arrangement was recently expanded to include a new original Spanish-language news service, EWTN Noticias, which launched this month.
"I am very pleased and excited that the Register will now be a part of the EWTN family," said EWTN president and CEO Michael Warsaw in announcing the deal. "All of us at EWTN have great respect for the Register and the role it has played throughout its history. It's a tremendous legacy that deserves to not only be preserved, but also to grow and to flourish.
"I believe that EWTN will be able to provide the stability that the Register needs at this time as well as to give it a platform for its growth in the years ahead," he continued. "We're proud to be able to step in and carry on both the Register's name and its tradition of faithful Catholic reporting on the issues of the day."
The National Catholic Register grew out of Denver's Catholic Register, which bowed Aug. 11, 1905. Under the leadership of Monsignor. Matthew Smith, the Register System of Newspapers was developed, with the first national edition appearing on Nov. 8, 1927. It was acquired by the Legion of Christ in 1995.
