Having served for six years as owners, directors and co-CEOs of Pinnacle Media Ltd., David and Vicki Legge have been planning for their own succession and the ongoing longevity of the company. Pinnacle Media Ltd. is the parent company of the Cayman Compass newspaper, a large stable of magazines and Precision Print (a commercial printing company).
The Legges have been searching for a purchaser, who is Caymanian and committed to keeping the public informed of important issues, holding policymakers to account, and providing a sense of community.
They have known James Bergstrom for many years, both as a friend but also as a partner at the law firm Ogier. Ogier provided legal services to the Legges when they acquired Cayman Free Press (later becoming Pinnacle Media) in 2013.
In addition to his career in law, Mr. Bergstrom is also an investor in a number of local businesses. He is married to Dr. Laura Aull, a Professor of English and Linguistics at Wake Forest in North Carolina. Both are believers that a strong and responsible press is not only a prerequisite to a well-run democracy but also crucial as a community builder.
The purchase has now been completed and the Legges will retire from their current roles on March 31, 2019.
The Legges will continue to serve as consultants to assist with the transition.