LOS ANGELES, USA, by the Associated Press via the Wall Street Journal (9/24/12) — A group of managers is buying the Village Voice and all its affiliated free arts weeklies but is leaving behind the online classified site Backpage.com, whose listings have drawn fire for promoting the illegal sex trade.
The buyout by managers is being led by Scott Tobias, the chief operating officer of Village Voice Media Holdings LLC. Tobias will become the new organization’s chief executive.
He said he has lined up private financing to buy almost all of the Phoenix-based company’s assets, which include LA Weekly and SF Weekly, from the current owners, Jim Larkin and Michael Lacey.
Larkin and Lacey will keep ownership of Backpage.com. Terms were not disclosed.
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