Jim Kilgore, Publisher of the Princeton Packet, is retiring and putting his community news group and the Packet offices up for sale. Kilgore has issued the following statement about his retirement and plans to sell the community newspaper group:
After a 37-year career in publishing and community journalism, I have decided to retire.
But first I must find a new owner for my company, ideally someone local, with the talent, resources, commitment and passion for community service through good, local journalism.
My Princeton-based company, The Princeton Packet Inc., publisher of 11 paid community newspapers — including this newspaper — seven free newspapers, a monthly magazine and a series of local-news-based websites, has been in my family since 1955 when my father, Barney Kilgore, who is credited for the success of the Wall Street Journal, bought his hometown paper and then proceeded to expand, adding six titles. After his death in 1967, the company’s footprint and product mix continued its expansion.
Through the years, our family has run this business, in part, as a service to the communities we cover, providing local news, sports, social news, features and local advertising to those who depend on us to build and nurture communities through local news and information.
Ideally, I would like to sell this business to another local owner who will have that same dedication to the community and quality news coverage as our family has strived for over the years.
Therefore, I am providing this public announcement to see who in the community might have the interest and resources to continue to provide the local news, information and advertising that builds a sense of community for the people and businesses we serve here in central New Jersey.
Local ownership is best for community news organizations because local owners have a vested stake and interest in the communities they serve and the Packet, on track for a profitable year, can continue the tradition of keeping profits at home, invested and spent locally.
Running a community news operation is as much about community service as it is about generating profits to grow and improve and to support those who choose a career in community journalism. Whether local news and advertising is provided weekly in print or daily online, being a community newspaper publisher is rewarding and fulfilling.
Our organization, headquartered on Witherspoon Street in Princeton, has a talented team of managers and staff who are dedicated to the company and its mission and strive for quality and efficiency. We have the people in place in all departments, just over 100 employees, to make the operation run successfully and to meet the vision of a new owner.
If you have the talent and resources to consider this business and community service opportunity, please contact Owen Van Essen, of Dirks, Van Essen and Murray, at 505-820-2700.