Clarity Media Group Chief Executive Officer Ryan McKibben met with employees of the Baltimore Examiner this morning to inform them that after several months of unsuccessfully seeking a buyer for the newspaper, Clarity Media Group reluctantly concluded that it had to close the publication. The last edition will be published on Sunday, February 15th.
McKibben explained that a key business assumption behind launching the Baltimore Examiner was that strong revenue synergies could be developed because of its market proximity to the Washington Examiner. “Unfortunately,” according to McKibben, “ those additional revenues did not materialize to the levels we had projected.”
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McKibben characterized Clarity Media Group as a “patient investor” – encouraged by the manner in which Baltimore Examiner employees had built the newspaper into a strong and well regarded organization. However, the nation’s deepening recession made it clear that the “synergistic” revenue that was a key element of the Baltimore Examiner’s business plan, would not be achieved in the foreseeable future. As a consequence, McKibben said, “It is not possible to maintain two major daily newspapers within a 50 mile distance and do justice to both publications.”
Increased Investments in Washington Examiner and San Francisco Examiner
While the synergistic revenue related to the Baltimore paper did not materialize, McKibben emphasized that the Examiners’ unique model – a free, credible daily newspaper, concentrating on local news, with a tight format and targeted home delivery – has achieved success. The model was strengthened last summer when the papers adjusted home delivery to two days a week while expanding single-copy circulation. McKibben characterized these moves as being “well accepted by readers and advertisers alike.”
Consequently, Clarity Media Group will concentrate additional investments on the East Coast – in the Washington Examiner and on the West Coast – in the San Francisco Examiner.
Additional resources are also being dedicated to the Examiners’ Internet presence, which McKibben said, “is a major investment in the future of the two Examiner newspapers.” This includes significant improvements in the design and functionality of their websites, which will be launched at the end of March 2009.
Substantial new investments in the Washington Examiner’s emerging role as an alternative editorial voice in our nation’s capital.
Beyond demonstrating the success of its unique model, the Washington Examiner has gone further, to become a strong and credible chronicler of national politics and public policy and is emerging as a scrappy, aggressive newspaper that is gaining attention and respect. Because of its success, Clarity Media Group is making new, major investments in the Washington Examiner. It is increasing the “news hole” to accommodate these improvements:
· An expanded “Commentary” section with additional op–ed contributors with strong and original voices …
· A daily page devoted to “Politics”…
· A weekly page on “national security” – and the addition of two contributing columnists who will write about defense issues …
· A weekly page on “K Street” that will examine lobbying and the role of special interests …
· The addition of talented columnists and contributors – including two new columnists who will each write twice a week for the Politics page …
· The hiring of highly respected columnist Timothy P. Carney to produce a weekly op-ed column and a weekly column for the K Street page …
· The strengthening the Examiner’s investigative journalism by adding two investigative writers who will delve into issues of national importance for our Opinion pages …
· Finally, investments in the future of the Washington Examiner by making substantial upgrades to its website – including a new design and vastly improved functionality that will be launched at the end of March 2009.
· To ensure the growth and success of dcexaminer.com three new web editors have been hired, including an online managing editor, Matthew Sheffield, founder of newsbusters.com.
