Investors shouldn’t let a good opportunity pass by again. If I were to buy the Albuquerque Tribune, which Romenesko points out was put up for sale by Scripps, here’s a list of things I would do to reinvent the newspaper.

First, some ground rules: It’s an afternoon newspaper that prints Monday through Saturday. It’s saddled with a joint-operating agreement that is set to expire. That means the Tribune will have no way to be delivered or printed. And paid circulation has dwindled to just 11,000 copies, which is fewer than my college newspaper printed. Onto the solutions . . .

Drop the afternoon idea Afternoon newspapers are so pre-Internet. Drop that stigma.

Create an ad staff
The newsroom has 45 editorial employees. With the loss of the JOA, it has zero sales people. Obviously, many newsroom folks will need to be converted to ad sales and other business-side positions.

Freebie
Advertisers would rather be seen than sent to only 11,000 subscribers.

Pay for printing
Even my college paper could find someone to print it.

Total market saturation
Without newspaper carriers, take to the mail boxes. All of them. When the product reaches every household in the market, it’s a lot easier to drum up advertising.

Go weekly in print, daily online
The printed product would emphasize a more magazine-like approach to coverage, while the online version would handle breaking news. Printing only weekly cuts down on costs but still provides a significant marketing boost to the Web site.

Tabloid format
Having never seen the paper, I can’t be sure it isn’t a tab. But it should be. Tabloids feel more like a magazine and are easier to mail.

Free classifieds
Mailing free classifieds to the entire market will really throw an elbow at the daily competitor, the Albuquerque Journal. Classifieds are legitimate content and a sure-fire way to attract people to your product in print and online.

User-submitted articles
Throw user-generated content into the mix of regular content to supplement the amount of stories (which will decline with the cut in news staff) and make the product more local.

The Albuquerque Tribune is a good brand that’s lasted in the market for more than 80 years. Brands are worth money; it’s the business models that come and go.

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