How many Pink Pounds can you get for Pink News? Publisher Benjamin Cohen may be about to find out.
He is looking at sale or equity options for the site, which has published news for *LGBT* readers since 2005, he tells Press Gazette…
“Pink News will face a series of changes in the next six months, Cohen says, which will include a relaunch and could involve a change to the ownership structure.
“Cohen says he had just begun ‘exploring the market’ and considering a range of options for the development of Pink News; including selling the site, raising capital to buy another publication or a merger. He has also been offered UK investment to develop the business.
“‘We have a tidy profit but not massive. Pink News could bring in ten times the revenue it gets at the moment with the right partners,’ Cohen says.”
Pink News claims 600,000 monthly uniques and purports to be “Europe’s largest gay news service”. But it’s run on a shoestring, with just one full-time member of staff, and is rough around the edges…
It could do with the new partner Cohen refers to to take it forward. Hypothetically, a partner like AOL (NYSE: AOL) Media, currently on a niche-content frenzy, could be one suitable destination. It already has its own QueerSighted blog, but this is more poppy than issues-led and hasn’t been regularly updated for some time.
Cohen’s nothing if not ambitious. Aged 16 during the dot.com fever of 1998, he started Jewishnet.co.uk and, as SoJewish.com, quickly floated it on the AIM. Three years later, he started an adult search engine, hunt4porn.com.
He’s since become Channel 4 News’ technology correspondent.
Back in February, he was doing plenty of publicity for a BBC Radio 4 show, I Was A Teenage Dot.Com Millionaire. He’s even got himself an agent, to broker event speaking gigs at £1,000 to £3,000 a time. (Correction: Cohen says the linked site is a reseller, his agent is Knight Ayton and there’s no appearance fee and he usually speaks for free or charitable donation).
Update: Cohen tells paidContent:UK it’s about investigating whether Pink News can build on its current strong position; he’s appointed a corporate adviser to search for partners, buyers or investors, though this is in its early stages and there’s no hurry because the site is profitable.
“We’re looking at a range of options, we want to build on the success it’s had so far and take advantage of scale in advertising sales.”
Full disclosure: Pink News ad sales are currently handled by Guardian Diversity Ad Network, and our publisher ContentNext is a wholly owned subsidiary of Guardian News & Media.