A shareholder of the independent weekly newspaper The Press has bought out the paper, which he launched in Dewsbury nine years ago.
Danny Lockwood told Press Gazette that he now plans more launches in Yorkshire and is optimistic about the future of local publishing.
With money drying up in tough economic conditions Lockwood said his purchase had secured the paper’s future.
“The business had been steadily leaking money, but I’ve brought in my former Yorkshire Post colleague Lucy Tissiman to run the commercial side, and inside six weeks we’re back in profit and growing the business week on week.
“I still think there’s a healthy future in local publishing, despite the doom and gloom we read on a regular basis. It’s all about good people, good product, and a simple and cost-effective business plan. Running a newspaper isn’t rocket science, but I look across the regional industry and all I see is fear and decline. It comes through in the papers I read.
“If you put passion and belief into your paper, your readers and advertisers will buy into it. I also think there are lots of opportunities out there and intend launching at least one more weekly product before the summer – I have the money and the plan, I just need to find the right people.”
(Source: Press Gazette)