Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Northwest Publications, Inc. - Lehman Brothers Collection

Northwest Publications, Inc.

List of Deals

Northwest Publications was incorporated as Dispatch-Pioneer Press Company in Delaware in 1927. The new corporation printed, published, and sold newspapers and periodicals. It also dealt in paper, timber, and lithography. Northwest Publications was a subsidiary of Ridder Brothers (now Ridder Publications), the large newspaper corporation that published the Journal of Commerce in New York at the time.

Ridder Publications was founded in 1892 in New York. In that year Herman Ridder purchased a New York German-language newspaper, the Staats-Zeitung, and began publishing it himself. His second acquisition was the venerable Journal of Commerce, which had been founded in 1827 and which Ridder purchased in 1926. The company grew by acquiring other newspapers. Ridder Publications had a policy of local autonomy for its newspapers.

Northwest Publications aided Ridder in acquiring newspapers. Northwest published the St. Paul Pioneer Press, the St. Paul Dispatch, the St. Paul Sunday Pioneer Press, and the St. Paul Daily News. In 1936 Northwest purchased the stock of the News Tribune Company and some assets of the Herald Company, both newspaper companies in Duluth, Minnesota. The purchase allowed Northwest to acquire two newspapers, the Duluth News-Tribune and the Duluth Herald. The Duluth News-Tribune had been founded in 1868 as a weekly newspaper called the Duluth Tribune; by the 1930s it was a morning paper. The Duluth Herald began publication in 1883 as the Evening Herald. To make this purchase, Northwest issued $4.2 million in sinking fund debentures. Of that sum, $1.5 million went to purchase the News Tribune Company. The rest of the money was used to retire previous company bond issues.

Northwest Publications’ net income was $390,000 in 1935 and $493,000 in 1939. The Ridder family continued to run both Ridder Publications and Northwest Publications for most of the twentieth century.

Harvard Business School Harvard Business School Baker Library Histrorical Collections