Last week, Ted Fleischaker announced that he had sold The Word and Up Downtown, a pair of monthly tabloid-size newspapers based out of Indianapolis, to New York’s Gaycation magazine. Once the bottom lines of these respective 64-page and 32-page publications are considered, it’s easy to understand why.
Both are full color; both have been profitable from the start; and both carry zero debt. Despite rather modest unpaid circulations. The Word focuses on the LGBT community in Indiana and six surrounding states, while Up Downtown covers events and related news in Indianapolis. From a report in the Indianapolis Business Journal:
The acquisition will extend Gaycation magazine’s reach in the Midwest, helping to fuel its aggressive growth strategy, said publisher D.J. Doran.
“The Word and Up Downtown are a perfect fit for our growing portfolio of news and travel media assets, and the name and rich heritage of both titles will be preserved independently, vastly expanding our overall print and digital platforms and extending our reach across the growing LGBT market,” said Doran in a statement.
Fleischaker, 64, is moving to Maine, where his partner has accepted a job with Apple. As part of the deal, he retained the Maine rights to the name Up Downtown and says he may start a publication under that name that covers downtown Portland. Unless, he told reporter Anthony Schoettle, he decides to pursue a lifelong dream of owning a radio station.