Maine Papers to be Profitable by Year's End, New Owner Claims

Posted Tuesday, June 16, 2009 12:00 am

By: The new owner of the Portland Press Herald and two other Maine dailies says his company is poised to be profitable, but future cuts at the newspapers might cost 100 employees their jobs.

The MaineToday Media Inc. investment group led by Richard Connor bought the Press Herald, the Kennebec Journal in Augusta and the Morning Sentinel in Waterville on Monday from the Seattle Times Co. for an undisclosed price. The sale includes the MaineToday Web site and niche publications.

In Tuesday's Press Herald, Connor said the papers will be profitable by year's end, if not sooner.

He said he plans to sell the Press Herald's three downtown properties that were part of the deal, with some workers moving to the company's facilities in South Portland where the printing press is located.

Comments

No comments on this item Please log in to comment by clicking here

Scroll the latest job openings

Post or search jobs now

Latest E&P Exclusive Reporting

The election desk: Newsrooms plan comprehensive coverage of a consequential midterm election

With the 2026 midterms fast approaching, newsrooms are preparing for an election shaped by national politics, questions about election security and voters hungry for trustworthy information. For E&P’s October cover story, Editor-in-Chief Gretchen A. Peck spoke with reporters and editors at Votebeat, The Associated Press, The Daily Beast and The Salt Lake Tribune about how they’re planning coverage before, during and after Election Day.

Waymo’s model makes the case for AI, with measurable consumer benefits

What can a self-driving car teach news publishers about AI? Quite a lot, according to Guy Tasaka. In his September E&P “Tasaka’s Tech Talk” op-ed, he argues that publishers should stop framing AI primarily as a way to cut costs and instead demonstrate how it delivers measurable benefits to readers and advertisers. Drawing lessons from Waymo’s safety record, Tasaka offers a roadmap for making AI not just more useful, but more worthy of audience trust.

SPONSORED #NEWSMEDIA SOLUTIONS

The Villages Media Group enhances production efficiency with ProImage’s NewsWayX

The Villages Media Group has chosen ProImage’s NewsWayX to streamline its production workflow and address long-standing challenges. The installation of NewsWayX, a cloud-based workflow management solution, has enabled the company to achieve greater flexibility, efficiency and accuracy in the printing processes.

D-R Media invests in operational growth with SCS Community Advertising System

D-R Media and Investments of Venice, Florida, has selected SCS’s Community Advertising System to update and enhance its advertising and production workflows. By implementing CAS, D-R Media will benefit from a unified, organization-wide solution that supports display, classified and digital advertising operations, as well as invoicing, accounts receivable and customer account management.

How publishers are rebuilding accountability reporting without adding newsroom staff

As shrinking newsroom staffs continue leaving major gaps in statehouse and government accountability coverage, publishers across the country are searching for ways to preserve essential journalism without adding significant overhead. Increasingly, many are turning to collaborative reporting models and syndicated newsroom partnerships designed to supplement local coverage while allowing already-stretched staffs to stay focused on their communities. Among the organizations expanding rapidly into that space is The Center Square, a nonprofit newswire that distributes state and national reporting to more than 1,350 media partners nationwide.

Richner Communications selects SCS system to modernize advertising and production operations

Richner Communications, Inc., based in Garden City, New York, has selected SCS’s Community Advertising System to modernize and streamline its advertising, production and customer service workflows.

How Dublin Inquirer uses legal risk assessments to keep accountability journalism moving

When Dublin Inquirer publishes a sensitive accountability story, the challenge isn’t just reporting the facts. It’s deciding whether a small, seven-person newsroom can afford the legal risks that sometimes come with telling the public what it needs to know. For editor and co-founder Sam Tranum and deputy editor Lois Kapila, those decisions once came down to late-night conversations and educated guesswork. Today, the independent Dublin newsroom relies on Reporters Shield’s Legal Risk Assessment service to help identify potential legal vulnerabilities before publication—allowing journalists to move forward with greater confidence while keeping important stories alive.

/casestudies/index.html

Maine Papers to be Profitable by Year's End, New Owner Claims

Comments

Publishers clear major hurdle in Google ad-tech antitrust fight

California invests in local news as Gov. Gavin Newsom signs the California Community NEWS Act into law

Axios hires Thomas Novelly as it expands defense coverage

Reuters promotes Rossalyn Warren to deputy digital director

The election desk: Newsrooms plan comprehensive coverage of a consequential midterm election

Waymo’s model makes the case for AI, with measurable consumer benefits

Leaders must create a sense of stability during times of boundless transformation

Students suggest solutions for declining media literacy and diminished trust in news