Monday, October 24, 2005
Who's Our Daddy?
Posted by Bruce Barry on Mon, Oct 24, 2005 at 9:12 AM
A deal that will change the Scene's corporate parentage is to be announced today: The NY Times reports that New Times Media is acquiring Village Voice Media, owner of the venerable New York weekly, the Scene, and four other alternative newspapers. The merger, if cleared by antitrust regulators, will create a chain of 17 free weekly papers with a combined circulation of 1.8 million. The merged company plans to use the name Village Voice Media, but New Times is the one doing the acquiring here - its current shareholders will own almost two-thirds of stock and control a majority of board seats.
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