Dickey Publishing Buys Modern Luxury
Modern Luxury Media has a new owner in Dickey Publishing, Folio: is reporting, where it will be controlled under the company’s radio broadcaster, Cumulus Media. Modern Luxury Media includes titles catering to affluent readers and travelers, including Modern Luxury Dallas, Modern Luxury Hawaii, San Francisco, Manhattan, The Atlantan and Angeleno. Additionally, the company publishes magazines for brides and for distribution in hotels.
Although all involved are keeping mum on the actual sale price, it is rumored to be “just north of $20 million” — a drop from the $243 million Modern Luxury Media garnered three years ago.
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