News

Forbes features Lightning as 'future of local print journalism'

The Dec. 28 issue of Forbes includes a story about the Hendersonville Lightning.

By Lightning Reports, Published: December 29, 2015

Forbes magazine features the Hendersonville Lightning in its current issue as a successful weekly newspaper startup in a crowded media landscape.

The story, “Paper Lions: As National And Regional Publications Crumble, Local Newsweeklies Are Making A Quiet Comeback,” was written by Zack O’Malley Greenburg, a senior editor who covers the business of media. He traces the founding and business approach of the Lightning, launched in 2012 by longtime newspaper editor Bill Moss with the support of eight local investors. Greenburg visited Hendersonville on Nov. 25 and wrote the story for Forbes’ 2016 Investment Guide in the Dec. 28 issue.
“On the corner of Oakland and Asheville in Hendersonville, N.C., sits an 812-square-foot trailer that houses what just might be the future of local print journalism,” Greenburg writes. “The Trailer of Truth, as it’s known in these parts, is world headquarters of the Hendersonville Lightning.”
After researching the emerging hyperlocal newsweeklies across the country, Greenburg decided to feature Moss and the Lightning as a successful model. The story points out that large metro newspapers and other forms of print media are struggling
“Ravaged by the recession — and the advent of free online news and classified ads — once-mighty dailies like the century-and-a-half-old Seattle Post-Intelligencer have moved online exclusively; in 2010 the Washington Post Co. sold Newsweek for $1,” Greenburg writes.
Against those headwinds, the Lightning is succeeding with a strong local news report and comprehensive coverage of Henderson County government, politics, business and entertainment.
“Buying or starting a local newsweekly isn’t for the faint of heart (or wallet),” Greenburg writes. “But for someone looking to shift a modest portion of assets into something fulfilling and potentially profitable, it’s still probably a better business proposition than opening a restaurant or an antique store — especially if financial rewards aren’t the only goal. ‘Reporting is the most important thing,’ says Moss.”
The story is in the issue on newsstands now and also on line.