How do I sell my local magazine or community newspaper?

Readers often think of a local paper as its editor. That is flattering, and it is also the main thing a buyer will ask about. The more of the work, the contacts and the knowledge you can move onto paper and onto other people before you list, the easier the title is to hand over. Give yourself time to prepare, and speak to your accountant and lawyer early, so that nothing surprises you once a buyer starts asking questions.

Separate you from the title

List what only you do, such as your column, your advertiser relationships and your trips to the printer. Then decide what can be taught, shared or stopped. Writing these down, as in getting what is in your head onto paper, shows a buyer a business that can run after you leave.

Gather the records buyers will ask for

• Advertiser lists with how long each has been a client and renewal history.
• Printing and distribution contracts and any equipment or lease papers.
• Proof of who owns the masthead, domain and archive.
• Terms on which editors and freelancers contribute.

Keep it quiet, then choose a buyer

In a small town, word that a paper is for sale can reach advertisers and staff before you are ready. Use confidentiality agreements and share names only with serious buyers. Likely buyers include another local publisher, a staff member or a community group. A broker can help you reach them, and you can ask whom the broker acts for. Plan the handover too: a few weeks of introductions to advertisers, the printer and key contributors help the new owner start with trust, and give your own readers a clear message about what changes and what does not.