Seven Days Photo: Top row from left to right; Paula Routly, Robyn Birgisson, Kaitlin Montgomery, Corey Grenier, Colby Roberts, Eva Sollberger, Michelle Brown, Ken Picard, Paul Heintz and Don Eggert. Bottom row from left to right; Carolyn Fox, Cathy Resmer, John James, Matt Weiner, Dan Bolles, Michael Bradshaw and Diane Sullivan. Not present: Pamela Polston
Vermont Business Magazine Seven Days founders Paula Routly and Pamela Polston announced today that 13 longtime employees are new shareholders in the media company the two women created almost 25 years ago. The holdings of those workers, combined with those of minority owners Cathy Resmer, Don Eggert and Colby Roberts, now represent 49 percent of the business. Financial terms were not disclosed.
“These employees have been crucial to our success — upping our news game, creating meaningful events, running other publications, always innovating — so we decided to make it official,” said Routly, publisher and co-editor of Seven Days.
Routly told VBM that the transaction took place on January 1 and that it includes a five-year buyout of Polston, who will remain with Seven Days. Routly said she also acquired one percent of Polston's shares, giving her a 51 percent stake in the company.
The newly vested shareholders extend across all departments in the operation, from editorial to circulation. They are: staff writer Paul Heintz, Kids VT account executive Kaitlin Montgomery, account executives Michael Bradshaw, Michelle Brown and Robyn Birgisson, marketing director Corey Grenier, staff writer Ken Picard, assistant arts editor Dan Bolles, production manager John James, art director Diane Sullivan, circulation director Matt Weiner, chief proofreader and special publications manager Carolyn Fox and senior multimedia producer Eva Sollberger.
All of the 1 percent owners have been with Seven Days fulltime since at least 2012. Several in the group have been working at the company for much longer.
The latest development is part of a succession plan that began in 2009, when Roberts, Resmer and Eggert were brought in as junior partners. “In some areas, we’ve mentored them; in others, Pamela and I have learned from their expertise,” Routly explained. “That collaboration has led to better decision making.”
Resmer, Roberts and Eggert each now own 12 percent of the company.
About Seven Days:
In addition to Seven Days and six other free publications, Burlington-based Da Capo Publishing also produces several annual events, the Stuck in Vermont video series and hosts a ticketing website and job board. Its award-winning staff has been recognized by the Association of Alternative Newsmedia, the Parenting Media Association, the New England Newspaper and Press Association and the Vermont Press Association. In 2015, cofounders Pamela Polston and Paula Routly were inducted into the New England Newspaper Hall of Fame. In 2019, the Greater Burlington Industrial Corp. presented Seven Days with the C. Harry Behney Economic Development Achievement Award.
Source: January 6, 2020 - Burlington, Vt. - Seven Days