Mainebiz

V O L . X X I V N O. X I I I J U N E 2 5 , 2 0 1 8 12 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E University of Connecticut, University of Massachusetts Lowell, University of Vermont and Western New England University. Charmed in Brewer, a local artisan and metaphysical shop, opened at 153 State St. in Brewer. EMHS, a health care system based in Brewer, said Standard and Poor's Global Ratings affi rmed its BBB long-term rating, while Moody's Investor's Service affi rmed its rating of Ba1. The agencies held consis- tent with system's previous year's ratings, which both included a nega- tive outlook. While the agencies referenced uncertainty about the system's ability to reverse a trend of weak earnings and budget perfor- mance, S&P noted the system's relatively stable balance sheet is expected to remain consistent with rating level expectations. Moody's rationale for its rating cited EMHS' signifi cant turnaround initiatives, greater rigor and discipline around budgeting and constrained capital spending, all of which will improve operating margins and protect liquid- ity in the future. esboulos.com E.S. Boulos provides a wide range of contracting services for the construction and EPC development of renewable and solar energy facilities throughout the northeast region of United States. We provide and manage all aspects of the process from conception/design to final acceptance. E.S. Boulos is a subsidiary of MYR Group Inc. and an equal opportunities employer © 2018 MYR Group Inc. ENERGY CONTRACTING SOLUTIONS FOR YOUR RENEWABLE FACILITIES Maine Media Collective assets sold to investor group B y m a i n e b i z s t a f f PORTLAND — A group of media and business leaders from Maine, New England and other national markets has acquired print, event and digital media assets from Maine Media Collective, the Portland company that was rocked this spring when its owner and former publisher Kevin Thomas was accused of sexual harassment by a former employee. The deal, announced June 13, includes Maine magazine, Maine Home+Design and Old Port magazine. It does not include Art Collector Maine or the Portland Art Gallery. The new owners, operating under the LLC State 23 Media, had no prior connection to Maine Media Collective. Adam Japko, the founder and CEO of Esteem Media (New England Home, Atlanta Homes and Lifestyle, Design Bloggers Conference) is a lead investor and will work closely with Maine Media Collective CEO and Publisher Andrea King, who will continue to lead the former Maine Media brands as publisher and CEO of State 23 Media. Sandy Spaulding, a long-time Maine business leader, is another key member of the investor group and will draw on his local experience to help insure the formation and future success of the company, the news release stated. "We're confi dent Adam and his team's experience and expertise with national and local media properties will propel our business forward and allow us to continue mak- ing a positive impact on the state we love," King said. "This group of people invested in our magazines because they believed in our talented team, the editorial mission and the passionate community we've connected and created around our media brands. We're excited to continue sharing unique and compelling stories about Maine and its people, helping local businesses grow and investing in the state's creative community." Japko added: "Since 2005 we have been acquiring best- in-class regional media around the country, so getting this unique opportunity to invest in Maine's local media and business communities made tremendous sense to us. As we have with our other properties, we will provide capital and a framework for the local team to create print media, online media, and events that produce meaningful results for local businesses and consumers." B R I E F In a deal announced June 13, a group of investors will buy Maine magazine, Maine Home+Design and Old Port magazine and other assets from Maine Media Collective. COURTESY / STATE 23 MEDIA LLC

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