Greenspun Media Group Empire in Las Vegas Continues to Crumble

The Greenspun Media Group empire continued to shrink Wednesday with the announcement that the company was suspending publication of two of Southern Nevada’s oldest community newspapers, the Henderson Home News and Boulder City News. 

The news follows Tuesday’s report that Greenspun has pulled the plug on its “News One at 9” broadcast on Las Vegas One television channel and last week’s cancellation of 702.tv, a Las Vegas-based news and entertainment video Web site that has been up for the past four months. 

The Boulder City News was established in 1937, when Boulder Dam was being built, and has a circulation of 7,500, according to the Nevada Press Association.

Henderson Home News was established in 1951 and has 27,600 circulation. 

Both publications are owned by Greenspun Media, a family business founded by the late Hank Greenspun more than 60 years ago. 

Media advertising revenues have dropped substantially in the past 18 months, as soaring unemployment and declining retail sales have forced cuts in marketing budgets. Newspapers across the country have closed or imposed significant cuts in the face of the advertising crisis. 

“Given the present environment, we sadly have no choice but to take a break from the community newspaper business,” Bruce Deifik, president of Greenspun Corp., said in a company statement. “We apologize to our communities for the suddenness of this news, and we hope our many loyal readers will now turn to our websites and our other outstanding publications for their news needs.” 

While scaling back its local newspaper enterprise, Greenspun will continue to deliver local news content through its LasVegasSun.com Web site, affiliated interactive media and other regional publications, Deifik said. 

Greenspun still publishes the Las Vegas Sun via a joint operating agreement with the Las Vegas Review-Journal. Other Greenspun print holdings include Las Vegas Magazine, Las Vegas Weekly, Vegas Magazine and In Business Las Vegas, along with the Niche Media group of 12 lifestyle magazines. The Greenspun family also owns Vegas.com and has a substantial interest in KTUD-TV Channel 14.I

In recent years the Greenspun Media Group, as well as many other media organizations around the U.S., have concentrated on the development of online and interactive media. 

“We’ll still be delivering local news and information. The only difference is that it won’t be on newsprint,” says Deifik.

Advertisements

Leave a comment

Filed under Las Vegas, news, Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s