Wednesday, October 6, 2010

Papers cashing in on "budding" revenue source

From the Bozeman Daily Chronicle:

Alternative weeklies are not the only publications raking in medical marijuana lucre. Dailies like The Denver Post and The Bozeman Daily Chronicle in Montana are taking advantage of the boom and making no apologies.

“My point of view is, for the moment at least, it’s legal,” said Stephanie Pressly, publisher of The Daily Chronicle, adding that the paper generates about $7,500 a month in advertising from medical marijuana businesses. “The joke around here is that it’s a budding business.”

At The Missoula Independent, where medical marijuana advertising now makes up about 10 percent of the paper’s revenue, there is concern that the spigot may soon tighten.

Matt Gibson, The Independent’s president, said marijuana businesses have helped carry the paper through a rough recession. “It’s been stressful for us for several years,” he said. “There’s no question that they’ve been good for our business. And we’re worried about 2011, if the state revises the statute, which it appears is all but certain.”

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