The Canton Repository and three other Copley Ohio newspapers will be sold by The Copley Press as a reaction to contractions in the newspaper business and debt resulting from the taxes on the estate of Helen K. Copley, who died in 2004.
Announcement of the likely sale of the Ohio and Illinois newspapers was made simultaneously Tuesday afternoon [Oct 31] at all Copley newspapers.
The other daily papers in Copley Ohio are The Independent in Massillon and The Times-Reporter in Dover-New Philadelphia, Ohio. The weekly paper is The Suburbanite in Green.
Copley’s four Illinois daily newspapers, in Springfield, Peoria, Lincoln and Galesburg, are also subject to sale, though a Copley spokesman said the Ohio and Illinois papers also could be part of “possible mergers” or other transactions. Copley announced earlier this year that its Torrance, Calif., paper was for sale.
The Copley Press, a privately held company headquartered in San Diego, will retain the San Diego Union-Tribune, the 21st largest newspaper in the United States with daily circulation of 304,334 papers.
“It has to be disappointing to our employees that an outstanding owner like The Copley Press would decide to sell its Midwestern newspaper holdings,” said David J. Greenfield, publisher of The Repository and president of Copley Ohio Newspapers. “They have been exceptional, concerned with both quality journalism and community service. David Copley has been wonderful to work for.
“But the newspaper business is changing with astounding speed, and our revenue base is not what it used to be. Newspapers are in a period where their business model is going to have to transform quickly and that will promote ownership changes in some instances. Another factor in our case was something that often cripples family-owned businesses as they pass through generations, and that is the inheritance tax. The bill was steep indeed,” said Greenfield.
“In any event, we will expect Copley ownership to continue into next year and are hopeful that any new owners will appreciate the value of The Repository’s 191 years of service to its readers and community, as well as the strong position of the other excellent newspapers in our Ohio group. It is a good company, a strong business and it has more than 570 fine employees. So we will see what the future brings,” Greenfield concluded.
“The newspaper business has been very good to my family and me for over a century” said David C. Copley, CEO of The Copley Press. “The flagship remains San Diego and the moves we are announcing secure our ability to keep The San Diego Union-Tribune as an independent locally owned newspaper for many years into the future.”
The Repository is considered Canton's oldest continuous business, dating back to 1815 when John Saxton published the first edition of the Ohio Repository.
Reader comments in Canton were swift and plentiful. Check them out along with these other stories.:
History of the Canton Repository
Canton Repository news story and comments from readers on sale
Canton Repository editorial
Times-Reporter news story
Massillon Independent news story
Beacon Journal report by Paula Schleis
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3 comments:
I hope someone comes in and does a better job with The Times-Reporter in Dover-New Philadelphia. That paper was first rate when it was owned by the Mansfield Journal Co. Harry Yockey and Jim Davis did excellent journalism there for many years. Solid, aggressive local reporting with a sense of place and history in terms of what it added to its front page from the national and international wires. Copley and other recent owners sucked it dry of personality and virtually turned it into a rag.
Amen to that
In retrospect, my Amen was too harsh a comment on the sale of my hometown newspaper. Please check my article in the commentary section of the web sits. I titled it, "What is a good newspaper?"
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