Monday, August 05, 2013

Boston Globe Is Another Metro Paper Gone Local -

Boston Globe Is Another Metro Paper Gone Local -

The sale continues a recent trend in the struggling newspaper industry: newspapers being returned to local owners, often at bargain-basement prices. 

When the possibility that the Tribune Company would sell its newspapers emerged this year, both The Los Angeles Times and The Baltimore Sun quickly attracted interested local buyers

Rick Edmonds, a media business analyst for the Poynter Institute, said the trend was driven by locals wanting to give back to their hometowns and also by the economic value of the buildings that house the newspapers. 

“There’s a sort of pride of community,” Mr. Edmonds said. “If it doesn’t work out, the value of the paper is equivalent to the value of the real estate.” 

But turning around a newspaper in the current environment takes more than financial skill and renewed focus. 

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