The ProJo's sale of Rhode Island Monthly to the magazine's publisher and president John J. Palumbo is, of course, another sign of tough times on Fountain Street. But what of the magazine itself?
The ProJo and the Palumbo are spinning the sale as an opportunity for a more nimble, entrepreneurial publication. And they may, indeed, be right.
But ailing media companies like Belo, which owns the ProJo, still have a little corporate heft that can prove useful in down times. We'll see if the monthly can stand on its own. Palumbo seems eager to give it a whirl.