The November 21 Program Summary........

Steve Falk became CEO of Sonoma Media Investments, LLC, in December, 2012. SMI was created to acquire the Santa Rosa Press Democrat, Petaluma Argus Courier, Sonoma Index-Tribune, North Bay Business Journal, Sonoma Magazine and a dozen affiliated web sites. Headed up by Darius Anderson, Falk joined Doug Bosco, Bill Hooper and Gary Nelson to form SMI and assembled local Sonoma County investors to complete the media acquisition. Today the SMI products reach almost all Sonoma County households.

Steve noted the two common questions asked about the Press Democrat deal:

HOW does a newspaper get bought and WHY would one want to buy it?

The HOW is a story of coincidence and remarkable timing.  Steve had neither funds or financing arranged when he approached the then Florida based Halifax Group owners in 2010.  Nevertheless Steve was confident, even when told the paper was about to be sold to other bidders.  Fast forward several months and growing awareness that Halifax and Santa Rosa were not a good fit, Steve again approached the owners, this time with local financial support and strong interest in locally controlled journalism.  Timing this go-around was providential, and Sonoma Media Investments took ownership of the above publications.

The WHY has roots in an ongoing dilemma in journalism:  Digital or print?  SMI believes both have a future.  Currently the Press Democrat has a Sunday circulation of 167K, and combined with the other local presses, has an 80% subscription rate in the county.  Digitally, the Press Democrat garners 15.8 million monthly "hits" on the online edition.  SMI sees potential in developing this market further and is already providing web services including site building and maintenance.  "Keep looking at those Sunday ads" Steve advises.  Print ad revenue still exceeds digital, currently $0.20:1.

SMI is bullish on locally controlled newspapers.  They are also in good company:  Warren Buffet holds interest in 45 such local media enterprises.  

Previously Falk was President & CEO of the San Francisco Chamber of Commerce. The San Francisco Chamber of Commerce is recognized as the city’s pre-eminent business organization for advocacy, networking and economic growth.With 2,000 members, the Chamber represents over 250,000 employees from every business sector and geography of the city.

Before joining the Chamber in 2005, Falk had extensive experience in the newspaper industry, including 18 years with the San Francisco Chronicle. He was most recently Publisher and President of The Chronicle and previously the President/CEO of the San Francisco Newspaper Agency, a joint operating agreement that published both the San Francisco Chronicle and San Francisco Examiner. Prior to San Francisco, he was vice president/circulation director for the Gannett Westchester Rockland Newspapers in New York, where he also planned and directed the launch of USA Today in the northern suburbs of New York City.

Born in Lancaster, PA, he began his newspaper career with Lancaster Newspapers during high school and college. He joined the Ithaca, NY, Journal in 1976 as country circulation/promotion manager and over the next several years held multiple management positions with newspapers in Berwick, PA, and Martins Ferry, Ohio. Falk serves on the boards of several local organizations, including the Commonwealth Club of California, and is a trustee of Elizabethtown College, PA, where he received a BA degree in psychology in 1976.