by Keith Richmond
THE final round of negotiations on the future of Tribune was due to get under way as Tribune went to press this week, with the fate of the magazine resting in the hands of its trade union owners.
Talks are taking place on the sale of the magazine following the decision by the trade union consortium to implement an orderly closure and seek expressions of interest from potential buyers.
Several bids were examined before discussions on the remaining bid began. Under discussion is an offer from a potential purchaser – a Labour Party activist – who is willing to underwrite the cost of producing Tribune in a three-year plan aimed at breaking even during that period.
The plan includes a ring-fenced marketing budget of £40,000 a year to ensure the magazine reaches more of its potential market and that subscriptions, readership and advertising increase.
Once a break-even position is reached any surplus revenue would be used to re-invest in Tribune to underwrite further growth.
A deal rests on the unions – Unite, Community, ASLEF, Unison and the Communications Workers’ Union – being prepared to continue to advertise at “historical” levels (averaged over the past
four years) and for them to give an assurance that they will assist in efforts to increase subscriptions by encouraging take-up among their members.
A decision is required quickly as Tribune’s financial position is becoming untenable due to lack of financial resources and it is hoped to hold a Board meeting within the next week to review the situation.
Editor Chris McLaughlin said: “I believe we are close to a deal that would provide an exciting new future for Tribune and provide us with the resources and the marketing tools to build on the progress we have made in the past few years.
“The unions saved Tribune once when it was on its knees and now that it is in a stronger position to grow and expand they have the opportunity to give it a new lease of life with an enthusiastic new owner.
“The bottom line is that they agree to advertise in the future and encourage members to take up subscriptions and why wouldn’t they?”
Veteran industrial journalist Geoffrey Goodman made a direct appeal to union leaders in a speech at the launch of a film and book history of the T&G hosted by the Unite joint general secretaries Tony Woodley and Derek Simpson.
He said: “It would be devastating if a great paper like Tribune were to fall over a cliff, especially at this critical time. It would be incredible if at this moment when the whole of society’s ideas are being rejuvenated we were to lose a vital voice.”
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