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Article: Atlanta Magazine Sold, Leading to Eight Layoffs. (Originated from The Atlanta Journal and Constitution)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 3, 1993
- Author:
CopyrightCOPYRIGHT 1993 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA--Aug. 3--Atlanta magazine was sold Monday to a unit of Indianapolis-based Emmis Broadcasting Corp., which is controlled by the former principal owner of the Seattle Mariners baseball team, Jeffrey H. Smulyan.
Terms were not disclosed. The seller is American Express Publishing Corp., which bought the money- losing magazine in 1989 from Boston-based Metrocorp. for an estimated $5 million to $8 million.
"There will be some changes in personnel, but there won't be any changes in the content or the philosophy of the magazine," said Lee Walburn, who will remain editor in chief of the 60,000- circulation monthly.
Eight of the magazine's 32 employees ...