|3 years ago :: Jan 19, 2011 - 1:53PM #1|
From the CNA article:
“I believe the Register has a bright future and fits quite well under the EWTN umbrella,” EWTN's President and CEO Michael Warsaw told CNA, announcing the planned acquisition from the network's headquarters in Birmingham, Ala. “Our goal is not only to continue the Register's legacy, but also to build upon it and to give it a platform for growth and expansion.”
The Register's previous owners, the religious order the Legionaries of Christ, ran into financial difficulties at the paper during 2009 and 2010, alongside other troubles caused by the revelation that their founder, Fr. Marcel Maciel, lived a double life.
EWTN will become the fourth owner of the Register, which was first published out of Denver, Colorado in 1905. The paper began publishing at the national level in 1927, reaching its peak circulation as a print journal during the 1950s. Patrick Frawley, a California-based investor, bought the paper in 1970 and moved operations to Los Angeles.
In 1995 the Legionaries took over the Register, moving it first to Connecticut, and more recently to New York. Although the Legionaries have remained optimistic about continued support for the publication from subscribers and donors, they reportedly lacked the resources to oversee necessary changes to the Register's business model.
“The kingdom of heaven is like unto a treasure hidden in a field. Which a man having found, hid it, and for joy thereof goeth, and selleth all that he hath, and buyeth that field.”
-- Matthew 13: 44