American Consolidated Media chief steps down

Halbreich has been named non-executive chairman, Macquarie Media Group, American Consolidated's parent company, announced Wednesday. He will remain on the board. Liam Stewart, who has been asset manager for ACM since May 2007, was named interim CEO.

Halbreich said he had been planning the move since American Consolidated's sale to Macquarie Media Group in February 2007.

"Since MMG's original acquisition of ACM in February 2007, ACM has grown into the fifth-largest community newspaper group in the U.S.," Halbreich said in a news release. "Now that the planned acquisition and expansion phase is complete, it is an appropriate time for me to step down from full-time responsibilities."

He said the move to the non-executive role will allow for a smooth transition for a new president and managing director of American Consolidated Media.

Halbreich said he also sees other opportunities on the horizon in the changing world of the media.

"We have entered into a period of intense and disruptive change impacting the newspaper industry and across most other media segments and I believe the current environment presents a range of unique, exciting and highly opportunistic possibilities," he said.

He said he has organized a new holding company, American Consolidated Ventures LLC, to pursue those opportunities.

American Consolidated Media has more than 100 newspapers, among them are 15 dailies and 46 weeklies in nine states, including Texas, Oklahoma, Minnesota, Kansas, Maryland, Wisconsin, Ohio, Delaware and Michigan. Its Texas dailies are in Alice, Brownwood, Stephenville and Waxahachie.