budget travel.jpgOne month after denying death rumors, Newsweek-owned Budget Travel has been sold to Fletcher Asset Management for an undisclosed amount.

In a release about the deal, Fletcher said it plans to “support the current management team, which will be responsible for the day-to-day operation of Budget Travel magazine and budgettravel.com” and will “keep essentially all” of the mag’s current staff.

Last month, after rumors of Budget Travel‘s demise were squashed, word leaked out that Newsweek was seeking a buyer for the travel mag. Now, it looks like Budget Travel will live on, just under new ownership.

Full release after the jump

Previously: Budget Travel Looking For Investors

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