SEYMOUR- The property of the South Knox-Seymour Times, both tangible and intangible, of any nature located at or incident to the operation of the paper, will be sold at public auction at 10 a.m. Wed., Feb. 11, at the front door of the business, located at 201 E. Moody Avenue in Knoxville according to a public notice filed by attorney Dan Scott for A.S.K. Companies, Inc.
In this economy, times are hard for everyone, and local newspapers are no exception. According to the Newspapers Association of America, newspaper advertising revenue was down 18 percent in the third quarter of 2008, the lowest of any quarter since 1996, and those dismal figures aren't expected to improve anytime soon.
The effects of this steep downturn have already been felt in the area, with nearly all of local newspapers being forced to lay off employees and cut positions, with the exception of the Seymour Herald.
The local company, originally founded by the Hance's in 1989, was sold in 2006 to Equinox News Publishing, Inc., whose Chief Executive Officer David Grimes, was a former employee of the Seymour Herald. Nearly three years after that sale, the company is set to be sold at public auction due to delinquent payments upon its loan, according to the notice.... read the rest of the story by Subscribing now.