APRIL FOOL'S POST:
Richmond's media wars have just gotten a little more interesting.
Thomas Silvestri, publisher of the Richmond Times-Dispatch, announced this morning that the daily paper was severing its relationship with parent company Media General and beginning an aggressive stock buy-back program.
Silvestri also announced that the Times-Dispatch would acquire local monthly magazine Boomer Life, which is largely comprised of well-seasoned former TD columnists.
"We like to think of it as a reacquisition," Silvestri said with a chuckle. Boomer Life is staffed by 37 once-popular Times-Dispatch columnists from the 1970s.
"What's most fascinating about this abrupt move is that it clearly positions the Times-Dispatch to own the region's lifestyle market," said Jeff Southerly, professor of mass communications at Virginia Commonwealth University. "As the Baby Boomer generation realizes that the devaluation in the stock market has effectively pushed their retirement out another 10-15 years, the Times-Dispatch is set to take advantage of the generational shift."
Southerly said that media analysts had predicted that Boomers would stop reading print newspapers after retirement, preferring to sleep in late or take in a few early rounds of golf. Putting the brakes on retirement plans means most Boomers will continue their morning ritual of coffee, oatmeal and a newspaper.
In addition to the new relationships, Silvestri said an immediate redesign is underway.
"Readers of the new Boomer-Dispatch are going to be delighted by our new lifestyle wrap," Silvestri said. "We're slamming Jann Malone right on A1, and moving national and international news to A16. Everything in between -- reprints over time of every column ever written by Ross MacKenzie."
Silvestri believes the new food-and-commentary-and-sports angle might keep the daily paper viable for another decade.
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