By: Jennifer Saba The Dallas-based A.M. Journal Express, which folded last April, is getting a second chance to go head-to-head with Belo's Quick.
Citizens Capital Corp., a media acquisition company that's been around since 1991, bought the assets of A.M. Journal Express from American Consolidated Media for an undisclosed sum announced today.
Billy D. Hawkins, CEO of Citizens Capital, told E&P his company plans to relaunch and reposition the free paper in the Dallas market. He would not reveal specifics though the paper will keep its initial target of 18-to-54-year-olds with a run of 150,000 copies distributed on the heaviest newspaper readership days.
A.M. Journal first launched in November of last year prompting Belo to steal the A. M. Journal Express' thunder with its own version of a free youth-oriented paper called Quick that hit the market a few days before. While concerned with the competition, Hawkins feels that Quick should not be a determent to re-enter the Dallas. "My belief is that if Belo would increase their efforts with Quick, it will take away from their base [The Dallas Morning News] product."
When asked what went wrong with the A.M. Journal Express the first time around, Hawkins said they didn't give the publication enough time. "You have to give any product more than four months."
Hawkins would not say how long nor how much money his company is willing to see the paper through profitability. But did mention the new asset will be a compliment to the company's yet to be launched broadband channel and it's direct mail product, Metro Market Shopper.
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