Reporting David Madden
By David Madden
PHILADELPHIA (CBS) – The main daily newspaper down the shore is up for sale. The Atlantic City Press has been part of a diversified family business for 60 years and now the family wants to consolidate.
Their firm, ABARTA Incorporated, wants to sell the Press Media Group to focus on consumer products like soda and frozen food as well as oil and gas holdings.
Two-hundred people at the paper are probably wondering about their future, but Jim Hopson tells them to relax.
Hopson used to be their publisher some two decades ago and is back now to publish and help sell the paper.
“I don’t think we’ll have a problem at all in finding a buyer. In fact, I’ve already been contacted by a couple of interested parties,” said Hopson.
He’s had experience in running and now finding new owners for papers in markets like Atlantic City where competition for news, not to mention advertising dollars, is far less competitive than urban areas like Philadelphia.
No timetable for completing a sale has been set and no one is talking price at this point.