Attention, budding alternative-media barons: the LA Weekly is up for sale.
In a post published Wednesday, the 38-year-old publication said that its current owner, Voice Media Group, is searching for a buyer “with an appreciation for the Weekly’s long history as a progressive icon in America’s second-largest market.”
In a statement, Voice Media Group also classified the Weekly as “profitable.”
Voice Media Group CEO Scott Tobias said Wednesday, “We expect to see a great level of interest in the Weekly,” which was founded in 1978.
Voice Media Group added that the sale of the Weekly is part of “a strategic corporate realignment that began when a new ownership group took the reins four years ago.” According to VMG, while digital business is up, the company has made “targeted reductions” in print assets.
Since hiring newspaper merger-and-acquisition firm Dirks, Van Essen & Murray in 2015, Voice Media Group has sold off four print properties — the Riverfront Times of St. Louis, City Pages of Minneapolis, OC Weekly in Orange County and the Village Voice in New York City.
Previous VMG sell-offs of print properties include the sales of SF Weekly and the Seattle Weekly, which took place in 2013.