The Advocate reported Friday afternoon that its owner, Capital City Press, is in talks with a potential buyer.
Richard Manship, president and CEO of Capital City Press, said the interested party is a private individual, not a chain, according to the story. No specific offer has been made for the newspaper, Louisiana's largest daily, and Manship said he isn’t sure if an actual bid will be submitted. If an offer is made, it is expected to come in the next couple of weeks. The paper reported:
Manship said a sale of The Advocate will be considered, if the price is right.
The potential buyer is not interested in purchasing WBRZ-TV, which the Manship family also owns. Manship said the ABC affiliate is not for sale.
Over the years, a number of potential buyers have expressed interest in The Advocate, one of the few family-owned daily newspapers still in existence. But Manship said no one has previously made an actual offer to buy the publication.
The Advocate’s average weekday circulation is about 98,000 and Sunday circulation is about 125,000 — boosted by its recent entry into the New Orleans market. New Orleans accounts for about 22,000 issues daily, said Dean Blanchard, the newspaper’s circulation director.
In March, the newspaper’s weekday circulation was 76,263, according to figures from the Audit Bureau of Circulation.
The Advocate launched its daily New Orleans edition in October to fill the void created in the Crescent City by The Times-Picayune’s switch to a three-day-a-week print edition. The Advocate also offers a daily Acadiana edition.
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