LA Weekly Being Sold To Mysterious New Company, Semanal Media

LA Weekly’s owner, Voice Media Group, has agreed to sell the alternative weekly newspaper as it sheds print assets and focuses on its digital business, a representative for Voice Media confirmed Wednesday.

LA Weekly, owned by Voice Media Group, is being sold to a new company. (Credit: Los Angeles Times)

LA Weekly, owned by Voice Media Group, is being sold to a new company. (Credit: Los Angeles Times)

The buyer, Semanal Media, is a new entity created for the purpose of this transaction, said Sara April at Dirks, Van Essen & Murray, a merger and acquisition firm that is representing Voice Media in the sale. April would not say who owns Semanal or where the company is based.

The deal is expected to close “in the next couple of weeks,” April said. Terms were not disclosed.

Voice Media announced in January that it was putting LA Weekly up for sale. It said at the time that the publication, founded in 1978, was still profitable.

Read the full story on LATimes.com.