By: E&P Staff
Russell Pergament, the former head of Metro Boston and founder of AM New York, is at it again in bean town. While the dominant dailies The Boston Globe and Boston Herald continue to struggle in a quick-change market, Pergament is set to launch a free tabloid Boston Now, reports Steve Bailey at the Globe.
Officially Boston Now hopes to land in racks and distribution points in September. The idea is a focus on staff-written local news.
Bailey reports that Pergament is backed by the Icelandic telecommunications and media company Dagsbrun, which plans to create more free dailies in the U.S.
Pergament is unfazed by the competition including his old stomping grounds Metro Boston (The New York Times Co., publisher of the Globe, owns a 49% stake in Metro Boston). He told Bailey: “Metro is not a concern to me. Metro has maybe 2% of the local print market. There is real money in this market if people know what they are doing.”