The Portland Mercury has a new owner.
A Portland Mercury newsstand in Portland, Ore., Saturday, March 14, 2020.
Bradley W. Parks / OPB
A recently formed media group is taking over as majority owner of the alternative weekly, along with its sister publication, The Stranger, in Seattle. Noisy Creek Inc. will also acquire the events guide associated with each publication, EverOut, and the ticketing platform Bold Type Tickets from the Mercury’s parent company, Index Newspapers.
Noisy Creek is funded by 20 people, including majority shareholder Brady Walkinshaw, who is the former CEO of media outlet Grist and former Democratic state lawmaker in Washington.
“We’ll be growing the editorial teams in both cities out of the gate,” Walkinshaw told OPB. “And working really closely with the editorial teams in both Seattle and Portland to help think about what readers want more of and what kind of coverage areas we can expand and grow.”
Walkinshaw said the deal was finalized on Monday. Index Newspapers will maintain a 20% stake in the company. Walkinshaw said Noisy Creek is offering positions to all current Index Newspaper staff members, and there are plans to expand the newsrooms in Seattle and Portland.
The sale of a publication can signal financial concerns and sometimes foreshadow layoffs. Since the proliferation of the internet, news outlets — including radio, alt-weeklies, and event guides — have struggled with turning a profitable print or broadcast model into one that makes money online.
A number of Oregon publications have changed owners or announced significant cuts this year. EO Media Group, which serves Bend and multiple rural communities, said in June it was cutting 15% of its workforce and consolidating its publications. The same week, Pamplin Media, the company that owned the Portland Tribune and a dozen other Oregon publications, sold to Mississippi-based Carpenter Media.
But the Portland Mercury and The Stranger have maintained cultural significance and a strong readership as other alt-weeklies have shuttered in the last two decades.
“In the media industry, the ‘acquisition’ of a beloved local brand often means slashing editorial budgets, losing local passion, or a cynical rollup into a soulless corporate behemoth,” representatives from Noisy Creek said in a statement announcing the sale. “Not so with Noisy Creek. The entire staff of Portland Mercury, The Stranger, Bold Type Tickets and EverOut have been offered positions in the new company, and the publications’ staffs and budgets will grow on day one.”
Walkinshaw said the company has a budget of $5 to $10 million for its first year.
Mercury Editor-in-Chief William Steven Humphrey said the publications weren’t looking for a buyer and had even turned down other offers over the years.
“We will listen to anybody that will come up and ask us about stuff like that,” Humphrey told OPB. “But we look into people and we do a deep dive and vet them — and there was no one that we felt like their values aligned with us. Until now.”
Humphrey was part of the founding team of The Stranger in 1991 and helped lead the effort to expand to Portland in 2000. Humphrey said Stranger and Mercury staffers formed Index Newspapers to act as the parent company for the alt-weeklies.
Known for in-depth political coverage, witty social commentary and extensive arts coverage, the Mercury has become a staple in Portland’s culture. Humphrey, who has been at the helm since the Mercury’s founding, said he plans to continue that work, including bringing on more employees.
“People love an alternative voice here,” Humphrey said. “I think they really love their arts and entertainment, and they like it mixed with news, and they like organizations who can use their own voice like the Mercury does.”
Humphrey said he hopes Noisy Creek’s support of journalism will serve as an inspiration for others interested in strengthening local media.
The Index Media Union, which represents newsroom staff at The Stranger and Portland Mercury, said in a statement about the sale that they remain committed to editorial independence in reporting and candidate endorsements.
Taylor Griggs is a news reporter at the Mercury and a member of the union’s bargaining team. She said newsroom staff met with the new owners on Tuesday.
“Any kind of change like this, especially involving a sale in today’s media landscape, it can be very scary,” Griggs said. “But after speaking with our current management and the new members of the Noisy Creek organization who are coming in, I feel pretty optimistic about our path forward. Cautiously optimistic.”