Georgia Straight sole to Media Central Corp. for $1.25M

The Media Central Corporation Inc. has moved to buy a Vancouver-based Georgia Straight newspaper for $1.25 million.

In further to a weekly imitation publication, that began as an anti-establishment journal in 1967, Media Central is staid to acquire straight.com and straightcannabis.ca, it announced Monday. 

It’s a second new merger for a company. Last month, Media Central, that has an residence in Vaughn, Ont., said it was acquiring Now Magazine — Toronto’s weekly choice paper — and a website for $2 million.

Its other publications embody a cannabis-focused website CannCentral.

The Georgia Straight now has an estimated 2.7 million readers of a imitation edition, and another 1.8 million readers online.

Decline in advertising

Founder Dan McLeod says he saw intensity in Media Central’s skeleton for Now, that were announced Dec. 2. His son, ubiquitous manager Matt McLeod, negotiated a deal.

He pronounced he hopes a sale gives staff during a announcement pursuit security.

“We have had problems with perplexing to stay running,” he told CBC in an talk Monday.

McLeod concurred that weeklies have been strike by a same decrease in promotion that has influenced many other imitation publications given a arise in digital alternatives.

He pronounced a association that’s shopping a Georgia Straight has embarked on an “ambitious” bid to buy adult some-more than 100 choice publications in Canada and a U.S.

“I consider that Media Central has a devise to pierce forward. They’re going to buy adult a lot of choice papers and they have some innovative ideas. So, we consider they have a good possibility to make a go of it,” he said.

Media Central’s chief executive, Brian Kalish, said there’s an event to daub into a fast readership grown over a years by choice weeklies opposite North America.

“The Straight is a rarely devoted Vancouver institution,” Kalish pronounced in a statement.

“The Georgia Straight brings some-more than 50 years of respected, award-winning internal broadcasting and an successful constant assembly of 4.5 million monthly readers to a Media Central family.”

Raided by police

The half-century-old choice weekly was founded by McLeod while he was a University of British Columbia math student. Over a years, a paper has been temporarily criminialized and McLeod pronounced he was quickly jailed.

In a early years, McLeod pronounced that his publication was raided by a military and once fined for obscenity. In a 1970s a Straight employed Bob Geldof, a immature Irish writer, before he went on to celebrity with a Boomtown Rats.

McLeod says he’s semi-retired but will sojourn accessible in an advisory capacity. He expects Media Central will keep a company’s other staff to run a Vancouver operation.

Media Central Corporation Inc. is listed on a Canadian Securities sell and describes itself as an independent media association that’s relocating to acquire and rise edition assets.

Article source: https://www.cbc.ca/news/canada/british-columbia/georgia-straight-media-central-deal-1.5416101?cmp=rss