The Princeton Packet is no longer for sale. Last year Packet Publisher James Kilgore announced he was planning to sell the newspaper and magazine chain in an article on the Princeton Packet’s front page. Now, in the same exact fashion, Kilgore said he has changed his mind.
A front page article in the Tuesday, July 24, issue of the Princeton Packet proclaims in a headline, “Kilgore to retain ownership of Packet Media Group.”
According to the article, Kilgore wrote a memo to employees explaining his reversal. “This company is very much a part of my family and there is still much to do here to get back on a path of growth while continuing to provide the vital community service we provide to readers and advertisers be it in print or digital format.”
Since Kilgore announced he was putting the chain on the market rumors have circulated about potential buyers, but nothing came to fruition.
“We had some offers, and I just said, ‘you know, this is not really what I want to do at the time,’” the Packet article quotes Kilgore.
The Kilgore family owns Packet Media Group, which publishes 11 subscription newspapers, seven free papers, and a monthly magazine. The Princeton Packet was founded in 1786 and subsequently published under several names until it was renamed the Packet in 1916. Kilgore’s father, Bernard, bought the company in 1955. Jim Kilgore has been at the helm for the past 31 years.