Georgia Straight/Facebook

Georgia Straight alt weekly to be purchased for $1.25M

Media Central also plans to buy Toronto alt weekly Now Magazine for up to $2 million

Media Central Corp. says it will buy Vancouver’s Georgia Straight alternative weekly newspaper and associated publications in a deal valued at $1.25 million, including cash and shares.

It’s the second recent acquisition for Media Central, which said last month it would pay up to $2 million to buy Toronto alternative weekly Now Magazine.

Georgia Straight founder Dan McLeod says he saw potential in Media Central’s plans for Now, announced Dec. 2. His son, general manager Matt McLeod, negotiated the deal.

In addition to the Georgia Straight, Media Central will acquire straight.com and straightcannabis.ca. Its other publications include the cannabis-focused online site CannCentral as well as Now Magazine and nowtoronto.com.

Media Central chief executive Brian Kalish says there’s an opportunity to tap into a stable readership developed over the years by alternative weeklies across North America.

Georgia Straight has an estimated 2.7 million readers per month through its print edition and an additional 1.8 million through its website.

“The Straight is a highly trusted Vancouver institution,” Kalish said in a statement.

“The Georgia Straight brings more than 50 years of respected, award-winning local journalism and an influential loyal audience of 4.5 million monthly readers to the Media Central family.”

However, Dan McLeod acknowledged in an interview that weeklies have been hit by the same decline in advertising that has affected most other print publications since the rise in digital alternatives.

“But I think that Media Central has a plan to move forward. They’re going to buy up a lot of alternative papers and they have some innovative ideas. So I think they have a good chance to make a go of it.”

McLeod says he’s semi-retired, but will remain available in an advisory capacity. He expects Media Central will retain the company’s other staff to run the Vancouver operation.

The Canadian Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C. firefighters only responding to most life-threatening calls during COVID-19 pandemic

The directive comes after province spoke with paramedics, fire services, according to top doctor

Two inmates found positive for COVID-19 at Mission Institution; two other tests pending

15 staff self-isolating waiting results, says correctional officer

‘An extra $220 every 90 days’: B.C. patients pay more dispensing fees due to prescription limits

Kelowna woman says it’s outrageous to charge for refills every 30 days

COLUMN: The other graph that shows B.C. can beat COVID-19

Is the curve being flattened? data on hospitalizations provides a crucial answer.

Goose in Abbotsford rescued after legs wrapped up in fishing line

Wildlife centre operator says people need to be more careful

‘Better days will return’: Queen Elizabeth delivers message amid COVID-19 pandemic

The Queen said crisis reminds her of her first address during World War II in 1940

Emergency aid portal opens Monday, cash could be in bank accounts by end of week: Trudeau

Emergency benefit will provide $2,000 a month for those who have lost their income due to COVID-19

Education, not enforcement: B.C. bylaw officers keeping a watch on physical distancing

A kind word, it turns out, has usually been all people need to hear

COVID-19: Hospitals remain safe for childbirth, say Vancouver Island care providers

North Island Hospital has been asked to share its perinatal COVID-19 response plan

Canadian cadets to mark 103rd anniversary of Vimy Ridge April 9 virtually

Idea of Captain Billie Sheridan in Williams Lake, B.C. who wondered what to do in times of COVID-19

Insurance shock for B.C. condo owners

Claim-free two-year-old townhouse complex told premium will nearly triple

B.C. VIEWS: Pandemic shows need for adequate care home staffing

Seniors in B.C. care homes face challenging times

QUIZ: How much do you know about hockey?

Take this test and find out how well you know Canada’s most popular winter sport

Most Read