Georges says ‘Advocate’ has all the resources, people it needs to compete

While sources say employees of The Advocate are on pins and needles as they await word on what the pending sale of the family-owned newspaper will mean to them, the man who may soon be their boss has at least some reassurances for them. “In my opinion that place has all the resources and all the people that it needs to compete,” says New Orleans businessman John Georges, who last week signed a letter of intent to acquire the paper. “There are some great people who work there.” Georges, who was at LSU’s E. J. Ourso College of Business this morning for the kickoff of Lemonade Day Louisiana, says if and when the sale is finalized, he will do the same thing at The Advocate that he has done at all the companies Georges Enterprises has acquired over the years. “When we acquire a company, we enhance them,” he says. “We make them competitive by giving them the resources they need to compete.” Many publishing companies around the country are selling or closing their newspapers because of declining circulation and revenue, which is the result of increased online competition. But Georges says newspapers are like any other business and can be profitable if resources are used correctly. He declines to discuss specifics of his business plan for the paper, citing a confidentiality agreement. The deal is expected to close by June 1. —Stephanie Riegel