St. Pete Times To Sell Off Assets?
The Poynter Institute, owner of the Times Publishing Company, publisher of the St. Petersburg Times is looking to sell what has become a Washington, DC institution – CQ or Congressional Quarterly.
CQ is a inside the beltway publication that is heavily relied upon by Congressional offices, lobbyists and trade associations for update information on what is happening on the floor. As a boutique publication (actually, it is an umbrella for a number of subscription websites and publications) whose clientele are not likely to see their need for its services decrease, CQ should be relatively immune to the media downturn that is killing the newspapers and magazines.
But, in the words of one CQ staffer, “there’s a realization that St. Pete is willing to cannibalize CQ to save [the St. Petersburg Times].”
This a prestigious publication and it is obvious that the St. Petersburg Times is in more trouble than any of us thought.