Doctor sells paper to former bank boss
The Cayman Reporter, Walkers Road
(CNS Business): Dr Steve Tomlinson has sold The Cayman Reporter to Ralph Lewis, the former head of the Cayman Islands Development Bank. The acquisition by Lewis, who also owns the more recent publication, Caymanian Times, comes after months of speculation that the Reporter was in dire financial trouble. Lewis refused to say, when asked by CNS Business, how much he paid for the newspaper, formerly Cayman Net News, which was created and owned by the late Desmond Seales.
It is understood that Lewis will be merging the Reporter‘s small team with his own staff, but although his own publication is less than a year old, he will be retaining the Caymanian Times brand rather than the much more established title. Lewis denied that this had anything to do with the history or controversies surrounding the previous owners of the publications.
In a release about the purchase, Lewis stated that the Times would move to the Reporter‘s Walkers Road offices and continue to publish just three days per week, on Mondays, Wednesdays and Fridays.
Category: Local Business, Media
What are the politics behind it?
Good luck Mr. Lewis ‘building your specific brand’. Along with good reporting the modern media market requires a degree of differentiation to survive in. (For CNS its probably the comments section. Next best thing to the old Marl Road.)