The Capital Times

What The Capital Times does

The Capital Times is a local newspaper and multi-platform media business serving Madison and Dane County, Wisconsin, founded in 1917 by William T. Evjue and now owned by publicly traded Lee Enterprises, Incorporated (NASDAQ: LEE, headquartered in Davenport, Iowa). The publication covers local government, education, elections, health, business, food, entertainment, and sports through a daily newsroom of approximately 86 employees and a century-deep editorial archive, distributing content via print home delivery, the captimes.com digital site, a print e-edition through newsmemory.com, and a Madison.com sub-brand integration.

The core product stack is built on the BLOX Content Management System and includes (i) a tiered News+ Membership program (Platinum, Gold, Silver) with auto-renewal and bundled home delivery plus unlimited digital access, (ii) recurring email newsletters such as Morning Update and Food & Culture reaching 20,000+ subscribers, and (iii) a branded live-events platform comprising the annual Idea Fest, the quarterly Power Hour executive breakfast series, and the quarterly Cooking with the Cap Times culinary series. The company also operates the Evjue Foundation (the paper's charitable arm, which has deployed $74 million to Dane County organizations since 1970) and The Kids Fund, an annual reader-supported drive.

Revenue is generated through three streams: (1) recurring subscription/membership fees, including annual premium publication surcharges up to $5.00 each across roughly 15 premium sections per year and a one-time $6.99 account setup fee; (2) print and digital advertising plus newsletter sponsorships sold to local Madison and Dane County businesses seeking access to the publication's affluent readership (Scarborough 2023 average household income $113,980); and (3) event sponsorships across the Idea Fest, Power Hour, and Cooking franchises. The go-to-market is membership- and sales-led, with multi-channel distribution through Facebook, Twitter/X, LinkedIn, YouTube, Instagram, and email.

Name

The Capital Times

Legal name

Lee Enterprises, Incorporated

Website

https://captimes.com

Company type

Private

Founded year

1917

Operating status

Operating

Headcount range

51–100 employees

Short description

The Capital Times is a Madison, Wisconsin-based local newspaper founded in 1917, owned by Lee Enterprises (NASDAQ: LEE), serving Madison and Dane County readers through print, digital, email newsletters, and a branded live-events platform, with revenue from subscriptions, local advertising, and event sponsorships.

Ownership category

akta.pro rank

Product category

Local Newspaper Publishing

NAICS

Newspaper Publishers (51311), Newspaper Publishers (513110)

SIC

Newspapers: Publishing Or Publishing & Printing (2711)

akta.pro primary industry

Local & Regional Newspapers (Print & Digital) (MPAJADAB)

Keywords

• Local newspaper publishing
• Digital news media
• News subscription services
• Community event sponsorship
• Print and e-edition delivery

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Advertising: The Cap Times generates revenue by selling advertising to businesses seeking to reach Madison and Dane County's educated and affluent readers. They offer print and digital advertising opportunities including display ads, newsletters, and social media.
2. Membership/Subscription: The Cap Times offers News+ membership plans (Platinum, Gold, Silver) with newspaper home delivery and digital access. Members pay recurring subscription fees with auto-renewal.
3. Events and Sponsorships: Revenue generated through event sponsorships for properties like Cap Times Idea Fest, Cooking with the Cap Times, and Cap Times Power Hour.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

The Capital Times is a local newspaper founded in 1917 that provides comprehensive news coverage of Madison and Dane County, Wisconsin, across government, education, health, business, elections, food, entertainment, and sports. It operates a multi-platform journalism business combining a print newspaper with home delivery, a digital news website (captimes.com), email newsletters, and live community events. Revenue is generated through News+ Membership subscriptions (Platinum, Gold, and Silver tiers), advertising sales targeting educated Madison-area consumers, and event sponsorships.

Product overview

The Capital Times is a local news publication offering a multi-platform journalism and media business. The core offerings include a News+ Membership subscription program (with Platinum, Gold, and Silver tiers) providing digital and print access, multiple email newsletters (Morning Update and Food & Culture), and live events (Cap Times Idea Fest, Cap Times Power Hour, and Cooking with the Cap Times). The company also offers advertising services across print, digital, and event channels.

Differentiator

Problem solved

Functional benefit

Brands

• Madison.com: Related digital platform for Madison-area news
• Evjue Foundation
• The Kids Fund

Products and services

• News+ Membership Subscription program offering unlimited digital access to captimes.com plus newspaper home delivery, with Platinum, Gold, and Silver tiers, monthly auto-renewal billing, and a one-time $6.99 account setup fee for new members.
• Morning Update Newsletter Daily email newsletter delivering Madison-area news Monday through Saturday mornings to the Cap Times subscriber list.
• Food & Culture Newsletter Weekly email newsletter covering Madison food and entertainment news, written by food and culture editor Lindsay Christians and delivered every Thursday.
• Print E-Edition
• Cap Times Idea Fest Annual multi-day thought leadership festival held each September, featuring speakers and panels on politics, culture, science, health, and civic causes, with event sponsorships available to local businesses.
• Cap Times Power Hour Quarterly executive breakfast series featuring one-on-one, future-focused conversations with top Wisconsin business leaders about the state's economy, with event sponsorships available.
• Cooking with the Cap Times Quarterly in-person culinary series for Cap Times members hosted by food and culture editor Lindsay Christians, featuring chefs demonstrating signature dishes.
• Advertising Services Print and digital advertising opportunities including full-page and display print ads, digital display units, email newsletter sponsorships, and event sponsorships, sold to Madison and Dane County businesses seeking to reach the Cap Times' educated and affluent readership.

Quantifiable outcome

• Cap Times readers are 21-29% more likely than average to remodel their kitchen or bathroom
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Evjue FoundationcoreOthersThe Evjue Foundation is the charitable arm of The Capital Times, established in honor of Cap Times founder William T. Evjue. It has provided $74 million to charitable, cultural and educational organizations in the Dane County area since 1970. The foundation supports local philanthropy through grants and the annual Kids Fund reader-supported drive.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Axios: Digital-first news brand built on newsletter and Smart Brevity formats. Competes for the same high-information, professional audience via newsletters and digital subscriptions, with local Axios editions expanding into markets like Madison.
• Politico: Digital-native political and policy news outlet that competes for the same politically engaged, educated readers Cap Times courts in Madison/Wisconsin — a state with outsized political significance.
• Block Club Chicago: Nonprofit digital local news outlet covering Chicago neighborhoods. Operates a membership/donation model with a deep community focus — analogous to the kind of digital-local-news operation Cap Times competes with in Madison.
• The Athletic: Subscription-based digital sports news outlet now owned by The New York Times Company. Competes for the same subscription-paying, affluent local reader dollars within Cap Times' digital/membership funnel.

Broad incumbents

• The New York Times: National news leader with subscription-first digital model and aggressive expansion into local/regional news (Athletic, Wirecutter, Cooking). Represents the gold standard for paid digital news membership monetization that Cap Times is attempting at a local scale.
• The Washington Post: National legacy newspaper with a strong regional Washington D.C. base and successful digital subscription business. Comparable as a legacy print brand pivoting to digital memberships and events.
• Chicago Tribune: Midwest regional daily owned by Alden Global Capital's MediaNews Group. Same industry pressures (declining print, digital transition) and similar subscription + advertising business model in a comparable Midwest metro.
• Milwaukee Journal Sentinel: Wisconsin's flagship regional daily, also owned by Lee Enterprises. Operates a broader Wisconsin footprint with overlapping editorial coverage, advertising sales force, and shared corporate infrastructure with Cap Times.
• Minneapolis Star Tribune: Upper Midwest regional daily serving the Twin Cities metro with a similar subscription-plus-advertising model. Comparable scale, multi-platform distribution, and reliance on local journalism in a college/state-government-dense market.

Direct peers

• Wisconsin State Journal: The other major daily newspaper serving Madison and Dane County, also owned by Lee Enterprises. Directly competes with the Capital Times for the same local readers, advertisers, and digital subscriptions in the same geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/CapTimes
• YouTubeyoutube.com/channel/UCdPecvRq0B2UYYJhzLUyWGw
• Facebookfacebook.com/CapTimes
• LinkedInlinkedin.com/company/cap-times
• Instagraminstagram.com/captimesmadison

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Capital Times