Rim Publications LLC is bullish about the newspaper industry.
The Bellevue, Wash.-based company and its affiliates have in the past two years bought or started up six weekly newspapers in the Northwest. It could buy as many as 50 more in the Western states, said Rim co-founder Stephen Routh.
Strangely, the moves have more to do with the booming and controversial business of home foreclosures than with journalism.
Routh is also CEO of Bellevue-based Northwest Trustee Services Inc., whose one-stop shopping business model has made it the largest foreclosure trustee in the region. Owning newspapers will reduce costs for Northwest Trustee's lender clients and could make foreclosures more profitable for Routh's firm.
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