'Chicago Defender' say it's profitable for first time in two decades

'Chicago Defender' says it's profitable for first time in two decades

By Mark Fitzgerald
Editor & Publisher
(January 4, 2006) Despite a tumultuous year in which an editor quit after just two months, the newsroom operated without a general assignment reporter for a brief period, the daily cut its frequency from five days a week to four, and an African American activist group declared a boycott of the black-owned paper, the Chicago Defender cleared a profit in 2005, Executive Editor Roland S. Martin (left) says.

"We had a very good 2005," he said in an interview. "Frankly, it's the first time the Chicago Defender has shown a profit since 1984." Martin did not offer any specific financial results for the black-oriented paper, which is owned by the privately held firm Real Times LLC.

Martin made the remarks a day after announcing the hiring of two new general assignment reporters, a gain of one position for the skeleton newsroom crew producing the tabloid.

Martin said that the paper's budget projects hiring one more full-time journalist, and a part-time newsroom employee at the end of the first quarter of this year. "As we build revenue, we will add a city editor by June," he added.

"It's been a long and difficult year," Martin said. "But finally we're almost there in crossing over that hump. ... I keep preaching patience."

Since Martin arrived as executive editor in the summer of 2004, he has insisted that the once-powerful Defender would bounce back from its parlous state -- but it would be one by first getting out of debt and cutting expenses to turn profits. "You've got to be a smart steward of your resources," he said.

The cutting came at a cost in 2005. In a recruiting coup last January, the paper named Pearl Stewart -- the first African American woman to head the newsroom of a metro daily -- as its editor.

But barely two months later, Stewart quit.

This summer, the paper eliminated its Tuesday edition, which it said was a consistent money loser.

And last month, the paper announced it was moving out of its landmark office building on the South Side to a downtown office building. "This move to a new location is critical, primarily because, frankly, we will be in a 21st century location," Martin said.

The paper will move to the high-rise in Chicago's Loop next Tuesday.

Martin said the location is helping with recruiting. "We are now getting applications from people for jobs at the Defender that I would say we would not get in prior times," he said. "When I sent out queries for positions we had available, frankly, we would not get top-notch people. Now people with significant experience want to be part of this new Chicago Defender."

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Click here for free delivery of the Target Market News Bulletin You'll receive news of breaking stories, exclusives, updates and headlines on the latest developments in African American marketing and media Black Stats Frequently requested data on African American consumers Black Buying Power: $679 Billion (2004) Black U.S. Population: 38.3 million Top Five Black Cities - New York - Chicago - Detroit - Philadelphia - Houston Top Five Black Metros: - New York-New Jersey - Washington-Baltimore - Chicago-Gary - Los Angeles - Philadelphia Top Five Expenditures: - Housing 110.2 bil. - Food 53.8 bil. - Cars/Trucks 28.7 bil. - Clothing 22.0 bil. - Health Care 17.9 bil. Click here for more stats from "The Buying Power of Black America." ______________________ Get quick access to key U.S. Census Bureau Data Click here to go to African-American Census Bureau data _____________________ Copyright `© 2005 by Target Market News Inc.` All rights reserved Business address: 228 S. Wabash Ave. Suite 210 Chicago, IL 60604 t. 312-408-1881 f. 312-408-1867 info@targetmarketnews.com	'Chicago Defender' says it's profitable for first time in two decades By Mark Fitzgerald Editor & Publisher (January 4, 2006) Despite a tumultuous year in which an editor quit after just two months, the newsroom operated without a general assignment reporter for a brief period, the daily cut its frequency from five days a week to four, and an African American activist group declared a boycott of the black-owned paper, the Chicago Defender cleared a profit in 2005, Executive Editor Roland S. Martin (left) says. "We had a very good 2005," he said in an interview. "Frankly, it's the first time the Chicago Defender has shown a profit since 1984." Martin did not offer any specific financial results for the black-oriented paper, which is owned by the privately held firm Real Times LLC. Martin made the remarks a day after announcing the hiring of two new general assignment reporters, a gain of one position for the skeleton newsroom crew producing the tabloid. Martin said that the paper's budget projects hiring one more full-time journalist, and a part-time newsroom employee at the end of the first quarter of this year. "As we build revenue, we will add a city editor by June," he added. "It's been a long and difficult year," Martin said. "But finally we're almost there in crossing over that hump. ... I keep preaching patience." Since Martin arrived as executive editor in the summer of 2004, he has insisted that the once-powerful Defender would bounce back from its parlous state -- but it would be one by first getting out of debt and cutting expenses to turn profits. "You've got to be a smart steward of your resources," he said. The cutting came at a cost in 2005. In a recruiting coup last January, the paper named Pearl Stewart -- the first African American woman to head the newsroom of a metro daily -- as its editor. But barely two months later, Stewart quit. This summer, the paper eliminated its Tuesday edition, which it said was a consistent money loser. And last month, the paper announced it was moving out of its landmark office building on the South Side to a downtown office building. "This move to a new location is critical, primarily because, frankly, we will be in a 21st century location," Martin said. The paper will move to the high-rise in Chicago's Loop next Tuesday. Martin said the location is helping with recruiting. "We are now getting applications from people for jobs at the Defender that I would say we would not get in prior times," he said. "When I sent out queries for positions we had available, frankly, we would not get top-notch people. Now people with significant experience want to be part of this new Chicago Defender." Go to Target Market News homepage	NEW! Search the entire contents of the Target Market News Web site! Looking for hard-to-find information on the African-American consumer market? Now you can easily search the contents of the leading source for information on African-American marketing and media. Scan our entire Web site for news, research and information using Google-powered keyword searches. Hundreds of articles, stories and report findings can be accessed for free. Click here to try it now! _____________________________________________________________________________________ 12th Annual Edition Available Latest 'Buying Power' report shows black consumers spending more on home life As the American economy continues to move sluggishly, African-American households are curtailing their spending in many categories, including food, clothing and basic household items, while investing more in home repair, home entertainment and consumer electronics. 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