The Associated Press, which has used Verve for mobile publishing since May, led the way in the company's second round of financing, the New York Times reports. "Mobile is actually a better way to reach people than print or even web. It's versatile, immediate, travels and is just as compelling," Verve CEO and former Village Voice Media president Art Howe says. One analyst tells the Times that newspapers need to tap into the fast-growing mobile market before it's too late. "It's important and smart for newspapers to get out in front on the mobile phenomenon and not make the mistake they made in waiting too long to embrace the internet," says Greg Sterling, who studies the mobile internet for Opus Research.
A subsidiary of the Erie, Pa. company, formed in March to invest in alternative newspapers and headed by Art Howe, acquires Louisville's alt-weekly only months after its purchase of Cleveland Free Times. Pam Brooks, a longtime Louisville resident and publishing executive, is the new publisher, replacing Blanche Kitchen Brewer, who is retiring. "It was time," explains LEO Executive Editor and co-founder John Yarmuth. "My concern is the best interest of this paper, and it supersedes all personal agendas."
Former Village Voice Media President Art Howe is now CEO of a holding company formed by the Mead family of Erie, Pa., which owns the daily Erie Times-News, to pursue purchases of alternative newsweeklies. Cleveland Free Times is the first investment the company has made in an alt-weekly. The management team headed by former Free Times Publisher Matt Fabyan "has been made significant partners," Howe said.
Art Howe claims in a lawsuit that his former partners at Montgomery Publishing Co., members of Philadelphia's prominent Rock family, owe him at least $2.5 million. That's what his lawsuit says is a conservative estimate of Howe's share of a sale of Montgomery, valued by investment bankers at $28.4 million, to Trenton-based Journal Register Co., the Philadelphia Business Journal reports. The lawsuit claims the Rock family -- who still own AAN-member Philadelphia City Paper -- drained the company of cash, eroding its value. Howe left Montgomery in 1999 and went to Village Voice Media as president.
