Tuesday, June 13, 2006

Forum spends $65 million for Herald

Forum Communications is paying $65 million for the Grand Forks Herald and $70 million for the Duluth News Tribune. Wow, I didn't realize that Forum would have this kind of money just laying around. The Duluth paper has a higher circulation than the Herald so that's why they are worth $5 million more. As someone who didn't really know what newspapers are worth, I'm pretty impressed that the Herald went for $65 million. That isn't exactly spare change.

10 comments:

Rick said...

Definitly not spare change. Why do I get payed minimum wage when Forum's dropping $135 million for two newspapers? Hmmm.

Anonymous said...

Waste of money for the hearld. It is a crappy newspaper!

Anonymous said...

Newspapers's values are traditionally calculated based on the its circulation. Each new subscriber is worth typically $1000 to $2000 to a paper. Based on the newspaper sales prices and the Sunday circulation, each Sunday Subscription to the Herald was valued at $1926.

Other sale prices were much lower:

Aberdeen: valued at $1557/subscriber
Duluth: valued at $1022/sub
Akron: valued at $890/sub
Philadelphia: valued at $751/sub.

The Herald must have been valued more for one (or all) of the following reasons: (1) The Forum wanted access to the Herald's new presses, (2) The Herald's other publications, such as Prairie Business and Agweek, have a lot of value, (3) Grand Forks is perceived as having more growth potential relative to the others, (4) Herald readership is more stable and loyal, and/or (5) the Forum sees an opportunity to lay off staff (i.e. like advertising, printing) in either GF or Fargo to compensate for the higher sale price.

Good Ol' Boy said...

Glad I bought my Herald ads ahead of time.... Jiminy Fishooks that's a lot of money.

20-something said...

Forum Communications owns a ton of other papers around the region and also WDAZ & WDAY now. So it's not that surprising that they could afford the Herald. The owner of the Forum had even told Knight Ridder years ago that he was interested in buying the Herald. What is surprising is that the Herald was valued at only $5 million less than the Duluth Tribune, because Duluth has a significantly larger distribution.

Anonymous said...

I HATE GRAND FORKS! It Sucks Big Time!

GrandForksGuy said...

Thanks for the insightful comment, Anonymous. I'm so happy to learn your feelings on Grand Forks. And such clever vocabulary! "It Sucks Big Time!" when you could have just said "It Sucks!"...such a way with words! Now I can go to bed and rest peacefully without having to toss and turn wondering just what Anonymous thinks of Grand Forks.

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