Bay Area Reporter to Partner With SF Newspaper Co. Executives
Executives at the Bay Area Reporter, San Francisco's LGBT newspaper, announced yesterday that they are restructuring the paper and partnering with executives at The San Francisco Newspaper Co., which owns the Examiner, SF Weekly, and the Bay Guardian.
The Reporter's publisher Thomas E. Horn and General Manager Michael Yamashita told their staff yesterday afternoon that the Bob Ross Foundation, which owns the Bay Area Reporter, has signed a letter of intent with Todd Vogt and Patrick Brown, both shareholders in the three papers. To be clear, this is not to say that the Reporter has been sold, rather that a new company will be formed: BAR Media Inc.
"This solves a myriad of problems that just have to be solved," Horn said, adding that "the paper will continue to be LGBT-majority owned and operated."
Yamashita, 47, will own 31 percent of the new company and will become the paper's publisher. The foundation will own 20 percent, while Vogt and Brown will own 49 percent, according to the newspaper.
Horn, the foundation's director, will be publisher emeritus and chair of the BAR Media board. Vogt and Brown will be management advisers.
"The past few months we were able to reach a deal where Pat and I can bring our experience and contacts to the new company while the paper maintains its LGBT ownership," Vogt said.