BIRMINGHAM, Alabama, JAN. 19, 2011 (Zenit.org).- The Eternal Word Television Network (EWTN) is announcing its plans to take over the National Catholic Register.
The network announced today that it signed a letter of intent for the acquisition of the publication, currently owned by the Legion of Christ, in a transaction that will be finalized at the end of January.
Michael Warsaw, CEO and president of EWTN, stated, «I am very pleased and excited that the register will now be a part of the EWTN family.»
He stated that the organization will continue the register’s tradition of providing «faithful Catholic reporting on the issues of the day,» while looking at strategies of expansion.
«All of us at EWTN have great respect for the register and the role it has played throughout its history,» Warsaw stated. «It’s a tremendous legacy that deserves not only to be preserved, but also to grow and to flourish.»
The publication first appeared in Denver in 1905. The first national edition was published in 1927. Patrick Frawley bought the newspaper in 1970 and moved it to Los Angeles. It was then purchased in 1995 by the Legion of Christ, which moved the publication to Connecticut.
The network’s press release noted that «recent trends in the publishing world, coupled with fallout within the Legion after disclosures that their founder Father Marcel Maciel led a double life, made it impossible for the order to continue publishing the paper.»
«I believe the register has a bright future and fits quite well under the EWTN umbrella,» Warsaw stated. He noted that it is «a perfect addition to our teaching apostolate.»
He reported, «Over time, we intend to continue the register’s digital transition plans, and to integrate it more fully with EWTN’s global presence on the Internet.»
The terms of agreement for the acquisition stipulate that no cash will be exchanged. EWTN reported that it will take over the ongoing operational expenses of the register and will assume its future subscription liabilities effective on Feb. 1.
EWTN Global Catholic Network currently provides services to over 140 countries and territories. It transmits nine television channels in various languages worldwide.
