The PennySaver advertising publication is back less than a year after it closed last May.
The new incarnation is PennySaverUSA.Com—a print publication and a website with digital ads. The company is 95% employee-owned, according to Chief Executive Elaine Brandler Buckley.
The return was backed by a group of undisclosed private investors in Irvine, Buckley wrote in a posting that’s part of a Facebook group called Former PennySaver CA employees. The investors helped the new operation secure the rights to the “PennySaver” name, according to Buckley.
The first phase of a pending resumption for the publication will see PennySaver reach 300,000 homes, according to Buckley. The ultimate goal is to reach 1.6 million homes.
The original PennySaver existed for 50 years, connecting buyers and sellers through printed, classified ads. It is not yet clear where this new enterprise will be based.
