Would you own a paper?

[Write-brained]

Strictly hypothetical question:

If someone offered you complete control over editorial and design of a small weekly, with perhaps even some ownership opportunities, would you take it? By small I mean anywhere from 2,000 to 10,000 (like I said, this is hypothetical.)

You would get control of everything in the paper while the money guy takes care of advertising and circulation. I imagine you could hire some stringers to help you out, but you'd probably do most of the writing and layout to keep costs down.

On one hand, it's obviously risky, especially with the way advertising is going. I guess I would ask for a set salary and perhaps spur the ownership opportunity because I don't want to take a hit if it tanks.

Some reason, having control of a paper at a local community level seems tempting, and possibly profitable, to me.

 

[mike311gd]

No. I really don't think I'd want to do all that work. I do a ton now, and it's probably nowhere close to having to put together an entire weekly newspaper.

 

[JayFarrar]

Depends on the market, but if my little hometown weekly ever went on the market, I would seriously consider making the attempt at financing to be able to buy it.
I think small town weeklies can be hugely profitable, but they aren't the kind of money that makes a media company even consider them.
Here's the questions you need to ask:
Does the paper have its own press or do they job it out?
What's the ad to editorial ratio?
How does the paper deliver?
What is the circulation?
What is the penetration rate?
Does the paper have demographics on its subscriber base?
How many copies are news stand sales and how many are delivered?
Are the area's big advertisers — banks, car dealers — locally owned or are they chains?
Who in the market isn't advertising and why?

 

[txsportsscribe]

i would guess a small weekly wouldn't have its own press unless it was making most of its money from taking in jobs. small daily with its own press, probably. weekly, unlikely.

and yes, i would kill to have my own small weekly. community weeklies run the right way are highly profitable.

 

[SCEditor]

An established weekly newspaper? Yes. Most small weeklies make a 5-20 percent profit after paying expenses, including salary. You're going to give me, say, 5 percent of the pie and a salary, plus let me run it the right way? Sign. Me. Up.

A new weekly? That's tougher. Yes, you can make it work, but the community support isn't established. A lot of people are fiercely loyal to their hometown paper. A new paper, people would be skeptical, but it can still work.

Newspapers are making cuts so they can have their 30 percent profit margins. I'm happy with 15 percent. Or 10.

 

[Rosie]

Having worked at a small-town weekly for many years, I already know the routine and I would do it.

Hypothetically, of course, as I do like where I am now.

 

[Frank_Ridgeway]

If the "money guy" were offering me complete control of the news product, I'd be guessing he's either lying or he's new at this (and if it's the latter, how do I know he can sell ads?). I think the realistic question isn't if there will be any meddling, but rather how much meddling there will be. The question I'd ask him is if he's had any experience taking stands on principle that wound up costing him money. If he has, he'll be dying to tell you all about it. If he gets pissy about the question, you know he's not going to have your back. But even if he has proven integrity in standing up to advertisers and readers, you aren't going to be left alone, you'll always (rightly) have to discuss it with him if you're thinking of running something that's going to bring heat on the paper, and there's going to be conflict between you. Whether his method of resolving that conflict between you is collaborative or arbitrary is the big question. Better to find out now.

 

[SCEditor]

One thing I want to ad: I'm comfortable shooting photos, designing and writing. For those who aren't comfortable doing all three and doing them well, I might back off the idea. But if you're versatile enough to do all three of those aspects competently, then I think it can be a very good idea.

 

[SCEditor]

If the "money guy" were offering me complete control of the news product, I'd be guessing he's either lying or he's new at this (and if it's the latter, how do I know he can sell ads?). I think the realistic question isn't if there will be any meddling, but rather how much meddling there will be. The question I'd ask him is if he's had any experience taking stands on principle that wound up costing him money. If he has, he'll be dying to tell you all about it. If he gets pissy about the question, you know he's not going to have your back. But even if he has proven integrity in standing up to advertisers and readers, you aren't going to be left alone, you'll always (rightly) have to discuss it with him if you're thinking of running something that's going to bring heat on the paper, and there's going to be conflict between you. Whether his method of resolving that conflict between you is collaborative or arbitrary is the big question. Better to find out now.

Very good point. I've been at a daily the last year where I've challenged locals' way of thinking and taken some tough -- and widely unpopular -- stances. I've almost forgotten what it's like to work at a small newspaper where there's a knee-jerk reaction from the publisher over the first phone call from a reader.

 

[Write-brained]

No. I really don't think I'd want to do all that work. I do a ton now, and it's probably nowhere close to having to put together an entire weekly newspaper.

The think is, Mike, the industry is at a point where you can work 10 times harder than you did last week and your paycheck is the same because there's little to any overtime. Not to mention that a higher up can totally mess your work up out of laziness or incompetence or fear. Imagine having some control and input into what you do. It's got to be 100 times more satisfying.

 

[Write-brained]

I was thinking more of an established paper with plenty of room to grow both in size and quality.

I also would be leery of entering business with someone I didn't already know and agree with on most issues.

 

[Frank_Ridgeway]

I also would be leery of entering business with someone I didn't already know and agree with on most issues.

I would say that agreement is less important than the way disagreement is addressed. It's like with a spouse -- you know there are going to be quarrels, you just want to make sure you're dealing with a grownup who fights fair and is able to compromise.

 

[SCEditor]

I was thinking more of an established paper with plenty of room to grow both in size and quality.

I also would be leery of entering business with someone I didn't already know and agree with on most issues.

Based on that hypothetical situation, I think it's something I would strongly considered. I'm a big proponent of heavy local coverage. Does that work at a big-time daily? Probably not. But I'm at a 16K daily where our population is shrinking, while our circulation is rising. Advertising is going up. I like to think that our sports department's complete change to a more local-intensive product (I'd estimate 80-90 percent of our sports front copy is local where before it was probably 50-50, if that) can be partly attributed to that. Along with our local coverage, we're making money off online photo galleries that are promoted in our paper. While it might be a pain, local coverage is what's working at community dailies and weeklies. You can't find a story on South Central High School on ESPN.com.

 

[forever_town]

I'd do it in a second. As long as it's an independent paper and it's not part of one of those media chains.

I've often pondered what it'd be like if I became owner/publisher of my current paper. I'd try like hell to rehire the guy I had as a full-time reporter and promote him to editor. Then I'd go hands off and let him run the editorial side as he sees fit.

 

[Tom Petty]

from what i've read, i think i'd do it if i were guaranteed health care and a salary with incentives. i'd also make sure i could go back to my old job if the whole thing tanked.

edit: i'd also want at least one full part-time person to work nights and weekends.

 

[BYH]

Always said if I ever win the lottery, I'm gonna **** it away buying a newspaper.

 

[Tom Petty]

Always said if I ever win the lottery, I'm gonna **** it away buying a newspaper.

AFTER the hookers and the coke, right?

 

[BYH]

Always said if I ever win the lottery, I'm gonna **** it away buying a newspaper.

AFTER the hookers and the coke, right?

Well, duh, yeah. Without sex and drugs, how else am I going to convince myself to buy a newspaper?

 

[Rex Harrison]

Yes, I would buy a paper. I'd keep profits up by firing the staff and re-hiring them at 85 percent of their current pay. **** it, if somebody's gonna make money it may as well be me.

 

[BYH]

Yes, I would buy a paper. I'd keep profits up by firing the staff and re-hiring them at 85 percent of their current pay. **** it, if somebody's gonna make money it may as well be me.

You've learned well.