The firm is a new division of Morris Communications and will operate as a captive venture fund established to “identify and nurture” growing businesses.
Morris Communications is the parent company of The Topeka Capital-Journal.
“As CEO and president of Morris Publishing Group, Will has done a tremendous job guiding the newspaper division through a turbulent period and ensured that MPG is once again on solid ground,” Chairman William Morris III said. “Will’s vast experience with business enterprises and with capital markets makes him the logical choice to establish and oversee this division.”
“Morris Venture Capital gives us a great resource to take advantage of new business opportunities,” he added. “While MVC is a new division of our company, it actually represents a formalisation and focus of what we have been doing for several years,” he said. “We have invested in a number of different businesses in recent years, some of which we have run ourselves, and some of which have been managed by others.”
Will Morris III was previously general manager of The St. Augustine Record and president of Morris Communications.
He has served on boards and committees of the Newspaper Association of America, Southern Newspaper Publishers Association, Radio Advertising Bureau and other industry organisations.
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