The Media Central Corporation Inc. has moved to buy the Vancouver-based Georgia Straight newspaper for $1.25 million.
In addition to the weekly print publication, which began as an anti-establishment newspaper in 1967, Media Central is poised to acquire straight.com and straightcannabis.ca, it announced Monday.
It’s the second recent acquisition for the company. Last month, Media Central, which has an address in Vaughn, Ont., said it was acquiring Now Magazine — Toronto’s weekly alternative paper — and its website for $2 million.
Its other publications include the cannabis-focused website CannCentral.
The Georgia Straight currently has an estimated 2.7 million readers of its print edition, and another 1.8 million readers online.
Decline in advertising
Founder Dan McLeod says he saw potential in Media Central’s plans for Now, which were announced Dec. 2. His son, general manager Matt McLeod, negotiated the deal.
He said he hopes the sale gives staff at the publication job security.
“We have had problems with trying to stay running,” he told CBC in an interview Monday.
McLeod acknowledged that weeklies have been hit by the same decline in advertising that has affected most other print publications since the rise in digital alternatives.
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