by Keith Richmond
Tribune is looking for a new owner following a decision by its trade union consortium that there will be no further investment in the magazine.
Expressions of interest from potential purchasers of the title are being sought in the hope that a takeover can be affected without an interruption in publication.
The editor is also launching an appeal to test potential support for a co-operative based on individual contributors.
Tribune has been owned since January 2004 by a consortium of unions made up of Amicus and the T&G – now constituted as Unite – Unison, Community, ASLEF and the Communication Workers’ Union.
Members of the board met earlier this week to discuss the future of the magazine following the absence of any decision on a £200,000 development plan tabled by the staff in April.
The board members agreed to recommend to their organisations an orderly close-down of Tribune Publications Limited, the discharge of outstanding commercial liabilities and to invite immediately expressions of interest from potential purchasers.
Several possible buyers have indicated an interest in keeping the title alive and the board members authorised formal discussions to go ahead while other interests are invited. But the possibility of a readership-owned co-op is also under consideration.
Editor Chris McLaughlin said: “Many readers, hearing of Tribune’s plight, have contacted pledging support through donations. One way forward could be to attract fixed contributions of say £500 as part of a new co-operative ownership. But we need to know whether the level of support would be sufficient to sustain viability.
“So I appeal now to readers who would be interested in principle to let us know as quickly as possible and to seek a similar commitment from friends in the labour movement and beyond.
“A co-operative would be an attractive option but we must also consider seriously any appropriate commercial bid. The biggest problem we have is time.”
In the absence of any funding decision since the board was faced with the question in April, debts have mounted, in spite of occasional interim donations, notably from the Amicus section of Unite.
Since 2004 Tribune’s annual deficit has been slashed from a £220,000 loss to just under £50,000, while a plummeting circulation has been reversed, increasing by a third and is still growing.
The thrust of the business plan was to build on this improvement through marketing and promotions with a break-even target to be met over two years.
But, apart from Community which was the only union to give unequivocal backing to the plan, the consortium felt unable to provide further funding.
