We Have Been Sold (to People We Know)
The Houston Press has been sold to a new holding company -- Voice Media Group -- by its previous owner, Village Voice Media Holdings, it was announced today.
Christine Brennan, who for 19 years was executive managing editor at VVMH, will be the executive editor of the new company.
The new company, based in Denver, is buying only the 13 print and online publications as well as the national advertising arm of the company. Backpage.com, also now owned by VVMH, is not part of the buyout.
That buyout is being led by Scott Tobias, who has been VVMH's chief operating officer and will be chief executive officer of the new Voice Media Group. Jeff Mars will serve as chief financial officer; he had been VP of financial operations for VVMH.
Under the terms of the agreement, Voice Media Group will own and operate the following print publications and corresponding digital properties: Village Voice (New York), LA Weekly (Los Angeles), Westward (Denver), New Times (Phoenix), Houston Press, Dallas Observer, Riverfront Times (St. Louis), New Times (Miami), City Pages (Minneapolis), New Times (Broward), SF Weekly (San Francisco), Seattle Weekly and OC Weekly (Orange County).
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Voice Media Group will also purchase and take over VVMH's national advertising division, which will now be called VMG National. VMG National will continue to sell national advertising for more than 56 partner sites and publications, reaching more than 3 million readers across 56 metro markets each week.
"The publishing properties purchased under this agreement have always exemplified a commitment to editorial integrity -- delivering reliable and essential news and cultural coverage to their local communities," said Brennan. "Voice Media Group will champion and nurture this journalistic heritage."
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