Broad Street Media Acquires South Philadelphia Review and Philadelphia Weekly
PHILADELPHIA, PA - FEBRUARY 3, 2015 - Affiliates of Broad Street Media, LLC (BSM) acquired the South Philadelphia Review and Philadelphia Weekly in Philadelphia from Review Publishing LP, a Delaware limited partnership.
Dirks, Van Essen & Murray, a merger and acquisition firm based in Santa Fe, New Mexico represented Review Publishing in the sale.
The South Philadelphia Review and Philadelphia Weekly are both published weekly. South Philadelphia Review has a circulation of 56,000; Philadelphia Weekly has a circulation of 65,000. The sale ends 27 years of ownership by Review Publishing.
“Philadelphia’s history with newspapers goes back to Ben Franklin,” said Perry Corsetti, who will take over as president of the new media company. “We love being part of that history and the history of South Philly Review and Philly Weekly. I hope people will be as pleased with us as we are with acquiring both papers.”
According to Stuart Richner, one of the owners of BSM, “We are excited about the opportunity this offers us to expand BSM into Center City and South Philly. This acquisition allows us to build on the success of our other publications, the Northeast Times and Star, two strong newspapers in northeast Philadelphia.”
Broad Street Media currently publishes the Northeast Times and Star in Northeast Philadelphia, the Midweek Wire in Bucks County, the Wire and Gloucester County Living in South New Jersey, and Employment Weekly in New Jersey and Philadelphia. BSM also owns newspapers in North New Jersey and Maryland.
For more information contact Owen Van Essen or Sara April at Dirks, Van Essen & Murray at 505-820-2700.