Bellevue, WA, April 03, 2008 --(PR.com
)-- Bellevue-based Eastside Business newspaper and online news site (www.EastsideBusinessJournal.com), The source for business news on the Eastside of Lake Washington, today announced that its Board of Advisors has decided to evaluate strategic alternatives to further enhance its value to readers, advertisers and the business community at large.
Founder and Publisher, Joe Kennedy, stated, "We have received unsolicited inquiries from multiple parties who have expressed an interest in a potential transaction with Eastside Business. We plan to conduct a fair, orderly and broad-based process. This process will commence immediately and we expect to conclude it as expeditiously as possible. Our Board of Advisors is committed to conducting a thorough evaluation of alternatives to enhance value for all Eastside Business stakeholders." Kennedy added "While the Board conducts this process, we will continue to execute our strategy. In the last year we have made great progress by increasing the number of people we reach through the print newspaper, our wildly popular online news site and twice weekly e-newsletters.”
Kennedy went on to say “While it has been and continues to be my pleasure to serve the great and growing business community on the Eastside, considering the recent outside interest, it may be time to start considering additional partnerships so that we can better serve the Eastside business community with a larger staff and bigger budget, eventually leading to the printing of Eastside Business on a weekly basis. If any agreement is reached, it is of the utmost importance to me personally that any new ownership team continue to take care of Eastside Business advertisers and continue to support the many non-profit service groups that we have served over the last three plus years.”
There can be no assurance that the evaluation of strategic alternatives will result in any agreements or transactions. The company does not intend to disclose developments with respect to the evaluation of strategic alternatives unless and until its Board of Advisors deems it appropriate.
About Eastside Business LLC
Eastside Business newspaper and online news site is The source for business News on the Eastside of Lake Washington. It was first published as The Bellevue Business Journal by Joe Kennedy in February 2005. As of today, it remains locally owned and operated.