THE four mastheads published by the Hamilton Spectator Partnership will cease operation the week before Christmas.

After December 21 the doors will close and the 45-plus staff will progressively receive all entitlements including redundancies.

The company’s multiple assets, including offices and real estate, will then go on sale, clearing the field for a new publisher to fill the void early next year.

The principal reason for closure is that the Spectator Publishing Group’s business model is no longer fit for purpose.

For the past half century, the company has endeavoured to remain independent and keep all facets of newspaper publishing inhouse, to maximise employment opportunities in the country towns we service.

Sadly, the business no longer attracts sufficient income to support a stand-alone publishing and printing enterprise as complex and decentralised as ours.

Producing local news only, our philosophy in modern times, is much more expensive than lifting national and international news from wire services, as is now common in regional publications to severely reduce newsroom costs.

Also taken into account before the decision to close was agreed was the age and impending retirement of a number of long-serving management and staff, and the necessary reorganisation of the company into a leaner operation making use of new technologies like AI.

Drifting along with more of the same for months ahead wasn’t an option that would benefit staff or shareholders.

As the advertisement on Page 4 makes clear the various mastheads are for sale individually or as a block.

The former is more likely to attract a local consortium of investors; our preference.

We believe that the mastheads will attract wide interest due to their pioneer history, wide circulation area and strong rural base.

The search for would-be publishers wishing to buy our mastheads is underway and will continue until one with an abiding interest in our part of Victoria is found.

The final editions published by existing shareholders will be: Portland Observer, Friday, Dec 20; Hamilton Spectator, Saturday, Dec 21; Western District Farmer Dec 21; and Casterton News, Wednesday, Dec 18.

The search and formal confirmation of new proprietors may mean a short break in publication of the Hamilton, Portland and Casterton newspapers during the January holidays.

Online subscribers paid beyond December 21 will receive proportional refunds.

Richard L J Beks,

Managing Director,

Spectator Publishing Group.