John C. Tompkins left college his junior year to buy his first newspaper. Today, he is the owner of News Media Corporation, a company that owns 65 newspapers in eight states, serving smaller cities and towns with populations between 5,000 and 50,000.
Tompkins also boasts good cash flow from his properties, even during a pandemic, and claims that the reason his newspapers maintain profitability is that he makes sure that all of his managers follow simple rules in monitoring their productivity via a system of metrics.
Tompkins is not only bullish on our industry, he thinks now is a great time for entrepreneurs to buy community newspapers. In this segment of E&P Reports, Mike Blinder, publisher of Editor and Publisher, goes one-on-one with Tompkins to learn his secrets to success.