November 28, 2012 - 5:49 pm
The parent company of the Las Vegas Sun “consolidated” its operations Wednesday, naming the president of the Greenspun Corp. to also oversee the previously separate Greenspun Media Group.
Paul Hamilton, who became president and chief executive officer of the Greenspun Corp. in April, will assume a similar role with Greenspun Media, which publishes the Sun, Vegas Inc., Las Vegas Weekly, Las Vegas Magazine and Vegas2Go.
In an email Wednesday afternoon to the staff at the Sun and Greenspun Media, Brian Greenspun, publisher and editor of the Sun and Greenspun Media, said, “In an effort to consolidate the Greenspun family businesses, Paul Hamilton, president of The Greenspun Corporation, has been appointed president of Greenspun Media Group. I will remain publisher and editor of the Greenspun Media entities. I know you will all join me in congratulating Paul.”
It’s unclear whether Greenspun will now report to Hamilton, or what impact the change may have on the Sun.
Greenspun took over day-to-day operations of Greenspun Media in September 2011.
According to a story posted on the Vegas Inc. website in April, Hamilton is a founding principal of Province Advisors. He has more than 15 years of experience providing advisory services to privately held companies, repositioning them for growth and create long-term value.
The Greenspun Corp. includes the media group, travel website Vegas.com, developer American Nevada Co., Greenspun Gaming, an investment portfolio and the Greenspun Family charitable foundation.
The Las Vegas Sun is an eight- to 12-page daily insert delivered with the Las Vegas Review-Journal. The paper derives most of its revenue from a joint operating agreement with R-J owner Stephens Media.
Greenspun family patriarch Hank Greenspun began the Las Vegas Sun when he acquired the remnants of a newspaper started by the International Typographical Union. First published in May 1950 as the Las Vegas Free Press, the paper’s name was changed to Las Vegas Sun in July of that year.
Hank Greenspun died in 1989, the same year his family signed the joint operating agreement with the Review-Journal. Over the years, the Greenspun family moved beyond publishing into other businesses that have been hit hard by the recession and housing bust.
The family launched American Nevada Co. in 1974. The real estate development arm was responsible for the 8,400-acre Green Valley in Henderson, Southern Nevada’s first master-planned community.
The Greenspuns became partners in several gaming projects with Station Casinos, including ownership in Green Valley Ranch Resort and Aliante Station. That investment was lost through Station Casinos’ 2011 bankruptcy reorganization.
The Greenspuns still have a stake in three Station Casinos properties: Barley’s Casino, the Greens and the Wildfire Lanes.
The Las Vegas Sun was a part owner in Las Vegas 1, a failed cable television channel, and the Greenspuns invested heavily in the Las Vegas Sun’s website and have been criticized for winning awards with it while producing little revenue.
The Las Vegas Sun produced the short-lived 702.tv, a nightly television show on the Las Vegas entertainment scene that was created for Las Vegas 1. The plug was pulled on the show after just a few months.
The Sun went through a series of layoffs in 2009, 2010 and 2011, eliminating an estimated 75 editorial staffers.
The Review-Journal also cut staff from each of its departments in 2011, including the newsroom, in an ongoing effort to reduce costs and make operations more efficient. In August, the Review-Journal reorganized its newsroom by adding two new deputy editors and eliminating other senior management positions.
Contact reporter Howard Stutz at firstname.lastname@example.org or 702-477-3871.
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