Hour Media Buys Publishing Assets

http://www.foliomag.com/2013/hour-media-buys-publishing-assets-american-public-media-group#.UfgdF1OYyKw

Hour Media LLC, a regional media company serving the Detroit market, has purchased Greenspring Media Group, the publishing division of American Public Media Group. Greenspring, based in Minneapolis, publishes 14 magazines, visitor guides and other custom publications for the Minnesota and Twin Cities regions, including the 58,000-circ Minnesota Monthly. Also included in the deal are the brands' associated websites and a group of eight local events. APMG is positioning the sale as an opportunity to emphasize its public radio programming, which includes American Public Media, Southern California Public Radio and Minnesota Public Radio.
 Terms of the deal were not released but APMG, which classifies itself as a non-profit parent of the for-profit Greenspring, notes in its June 30, 2012 financial statement that it carried forward an $8.6 million net loss associated with the group.