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The New York Post, owner of New York Post, has expanded its presence of the metropolitan area with the acquisition of two newspaper groups with 28 weekly papers, which primarily serve Queens and Brooklyn.
With the move, the news corporation increases its reach to the districts outside of Manhattan and the minority populations, which were removed from his main competitor, the daily news in the stock exchanges.While the price of the acquisition was not disclosed, nobody near the deal, but not authorized to talk about the matter, said News Corporation $ 16 million for the two operations: the Timesedger and Courier-Life Newspaper groups.
twsPledger releases 16 weekly newspapers in queens with a total circulation of 50,000, including rinsing times, the Astoria times and the Glen-Oaks Ledger, according to the news corporation. The courier life publishes 11 Brooklyn newspapers with a total circulation of 90,000, including Bay News, Brooklyn Heights Courier and FlatBush Life, said the company. The courier life also publishes the Caribbean life, which has 105,000 over the five districts and Westchester and Nassau counties.
New York Post has the average daily circulation of 673,000, according to the latest figures available from the examinery of the circulation. The average daily circulation of daily news is 708,000.
Courier-Life, founded in 1945, was in possession of the editor Clifford shine and his parents, Edward and Rhoda shine. Timesedger, founded in 1935, was in the possession of the publisher and the publisher Steven Empty, whose father, Ben empty, had a small interest in the company. The newspaper groups are the only media properties that belong to Mr. Gluster and Mr. Blank.
Les Goodstein, Senior Vice President of News Corporation, said he was looking for community term groups since he joined the company in January. "What we really wanted to do here were publications have been found by a business point of view, which would supplement New York Post," he said. He added as the contribution "a pretty good holding on Manhattan" has been his main goal to raise coverage in Brooklyn and queens.
The sale does not affect the editors of the acquisitions or changes their content, said Mr. Goodstein. He added that it was not decided whether the groups of other departments such as advertising or circulation could be merged with the posts to reduce operating costs.The expansion in Brooklyn and Queens enables the contribution to better participating in the daily news by offering its advertisers more rapporteurs. And these smaller papers, attractive for advertisers for their relatively low fees and the faithful readership, will be more likely to wear larger advertisers as part of a larger roof company, Mr. Goodstein said.
"It will help the contribution to a degree, but our main goal is to make these publications more profitable," said Goodstein.
The sale is the latest twist in the intensive competition of the daily papers of New York, where the contribution and daily news compete with publications such as the New York Times and the free papers like Amnew York and Metro. Both the news-corporation and the news analyst said, the sale would have the current competition between the Manhattan Dailies relatively low influence.
mr. Goodstein said: "In similar models throughout the country, community term groups were more profitable than the newspapers they own."According to Arlene Morgan, an associated dean at the graduate school of the Journalism of the Columbia University and a former assistant business outper of the Philadelphia examiner, the sale is a good investment for the post, but not necessarily an edge in the fighters of Manhattan .
Small papers have "a very low end of production costs, and the return is very high," she said. "Neighborhood advertising is a great draw, it is more important than content, and it will be helpful as a whole."