Weekly newspaper for sale
This is your last chance to buy a 105-year-old weekly newspaper in southeast Oregon. I have low- and no-down contract offers, but that’s not what I want.
Actually, what I want is a fully restored old pickup, a mid-’70s Volkswagen or an ’80s Toyota, to tow behind an RV. That and three dental implants. If there is an oral surgeon/car collector/journalist out there, we can trade.
Otherwise, the cash price is $26,000 (less than contract offers). And, no, you can’t borrow enough against the paper to raise the money. Macs with Adobe Suites, PCs, copiers, scanners, cameras and whatnot are not enough.
If I can’t get the cash by October, I’ll take one of the contract offers. My foremost concern is that The Malheur Enterprise go to the best-qualified journalist I can find.
The good news: We’re back in the black after losing $13,000 last year as the recession bottomed out. While a loss is a loss, it has to be qualified with the fact that a hands-on owner (I’ve been an absentee) would keep between $26,000 and $61,000 in their pocket from wages paid to part-timers, most of whom are eager and/or expecting to leave.
The good/bad news: There is no regular ad sales system. As more or less a hobbyist, I’ve been content to take what comes in. That has to change to realize the paper’s potential, but not having to deal with ads was wonderful.
More good news: Even running things the way I have, I netted $76,000 pre-cession (2010). Good: We get legal announcements. Bad: That 2010 figure was inflated by foreclosures.
Maybe best of all: There is real growth potential. While located in the county seat, a nearby community is ripe for a circulation and advertising push. If I were even 10 years younger, I'd go for it.
Anyway, even priced at $26,000, there would be a ton of stuff to talk about and not a lot of time to get it done. I am committed to the October deadline.
I can be reached at 253-838-3245 or email@example.com.