Two City Paper Corporate Cousins Sold Off
The parent company that owns Washington City Paper, Creative Loafing Inc., announced today that it's sold papers in Tampa and Charlotte to SouthComm Inc., another company that owns alternative weekly newspapers in Nashville and Kansas City. Also, Creative Loafing's CEO, Marty Petty, has resigned.
The move leaves Creative Loafing Inc. with three papers: City Paper, Chicago Reader, and Creative Loafing Atlanta. "The sale of the Charlotte and Tampa properties now positions CL, Inc. to focus on brand value, audience and revenue growth for its flagship publications," the company's board said in a statement sent to employees. "We thank Marty for her hard work, passion and commitment to Creative Loafing over the last two years."
Creative Loafing Inc. is controlled by Atalaya Capital Management LP, which bought it out of bankruptcy two years ago.
So what does that all mean for you, loyal City Paper reader? Nothing, really; our coverage of D.C. news, politics, arts, sports, and culture won't change. But we figured it was worth noting in the interests of full disclosure and whatnot. Now back to your regularly scheduled Columbus Day, already in progress.