Los Angeles, CA - November 30, 2017 - Voice Media Group announced yesterday that it has completed the sale of LA Weekly to Semanal Media, LLC. Terms of the transaction were not disclosed.
Dirks, Van Essen & Murray, a media merger and acquisition firm based in Santa Fe, New Mexico, represented Voice Media Group in the transaction.
The Weekly is the seventh newspaper to be sold by VMG as part of a strategic corporate realignment that began when a new ownership group led by Chief Executive Officer Scott Tobias assumed control almost five years ago. Under that plan, the company has made targeted reductions in its print newspaper portfolio while aggressively building its digital business.
Earlier this year, Inc. magazine named VMG’s digital advertising arm, V Digital Services, one of the nation's fastest-growing private companies. VDS now operates in 13 major U.S. cities, featuring more than 90 analysts and account managers who specialize in helping small and large businesses achieve digital success through expertise in organic SEO, paid media, social media management, web development and both programmatic and pay-per-click advertising.
Following the sale of the Weekly, VMG will continue to own and operate four iconic print-and-web publications - Phoenix New Times, Denver Westword, Miami New Times and the Dallas Observer - along with www.houstonpress.com, its online publication in Houston.