How do I hand over my PR firm’s relationships with local journalists?
Introduce the buyer to the journalists you work with most, in person where you can, and explain who they will deal with from now on. Share what each reporter covers and prefers. Trust transfers slowly, so stay reachable after the sale to vouch for the new owner.
Make a short profile for each key journalist: the beat, the outlets, how they like to be pitched, what has worked and what has gone badly. This is knowledge you carry in your head, and a buyer will struggle to rebuild it from a contact list alone.
Pick the relationships that matter most and introduce them one at a time. A short coffee or call, with you saying why the buyer is worth listening to, carries more weight than an email announcement. Journalists respond to people they trust, so let them see that you trust the buyer.
Be careful with confidences. Some conversations were off the record, and a buyer does not need every detail. Share what helps the next pitch, and leave out anything that was said in confidence. Finally, agree how long you will stay available for questions or joint introductions. Put that into the sale agreement with your lawyer, so both sides know what to expect. Keep the tone modest and specific. Tell each journalist what will stay the same, what will change and whom to call, so the first message from the new owner answers questions before they are asked and builds trust. Jot down what you learn as you go, and take it to your adviser before deciding.
Key takeaways
- Write a short profile for each key journalist.
- Introduce the buyer in person, starting with the most important contacts.
- Keep confidences private and agree a support period.
Related reading
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Selling
Due diligence
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
- 02Business Development Bank of CanadaIndustryHow to sell your business
- 03Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
- 04Business Development Bank of CanadaGovernmentWhat is succession planning?
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