Thursday, March 5, 2009

News-Star, Booster Sold

The Chicago Journal admits failure by selling off its two most profitable papers within Chicago. News-Star and Booster were sold this afternoon in a secret lunch meeting downtown. The papers were sold to Inside Publications, which publishes "Inside," a free weekly distributed in the North Center and Lincoln Square neighborhoods. Chicago Journal sold cheap. They paid $2 Million for the old Lerner Newspapers a year ago, and they took a loss on today's sale. This, sadly, was predictable. The Reader's Mike Miner has more... (Chicago News Bench will have more on this later, with some first-hand insight that The Reader does not have, such as the mismanagement of the papers by publishers Andrew Johnston and Dan Haley, and the day-to-day operations by "managing editor" Helen Karakoudas, and the horrible web site work by Graham Johnston.) RELATED: Worst Newspaper Web Site of 2008 Kindle and the Future of Newspapers Chicago Journal keeping 2 weekly newspapers, selling 2, closing 1 Chicago News Bench RSS Feed Cool Stuff...