Manhattan Media’s Manhattan Newspaper Group is being sold to Straus News, a company that already publishes nine local weekly papers in New York, New Jersey and Pennsylvania. The Wall Street Journal reports that financial terms of the deal were not disclosed.
The papers involved in the deal include Our Town, The West Side Spirit, City Hall, The Capitol, Our Town Downtown, Chelsea Clinton News and The Westsider. Manhattan Media will retain ownership of City and State and the magazines Avenue and New York Family.
Manhattan Media has been on the block since September of last year, when Isis Venture Partners, the private equity firm that owns Manhatan Media, decided it wanted to focus more on its Latin Trade Group.