(CNS): After months of speculation, the acquisition of Compass Media by Dart has been confirmed by both parties. In a report in the islands’ oldest private news organisation on Wednesday, James Bergstrom, who purchased the media house just over four years ago, said he had sold it to Dart Media and Entertainment, which appears to be a newly formed company, subject to the necessary regulatory approval.
Bergstrom sold the commercial print business in January and restructured the company after he acquired it from David and Vicki Legge. According to the Cayman Compass, Compass Media’s flagship publication, this was to “survive the dramatic changes over the last few decades”, such as the shift from print to digital technology and the explosion in social media as the main source of news for many consumers.
However, the paper’s survival has remained in doubt, and Bergstrom has now agreed to sell the business to Dart. “Over the past five years, I have sought to…
