Manhattan Media, the publisher of several local newspapers and magazines, is up for sale. Sources told Crain’s New York that MM’s private equity owners want to sell the company so that they can concentrate on Latin Trade Group properties, part of Isis Venture Partner’s Miami Media subdivision.
Richard Burns, co-founder of MM and managing partner of Isis, told Crain’s that two buyers are interested in purchasing the company. “The conversations we’ve had are kind of formal, and folks have seen numbers,” Burns told Crain’s. “To the extent that they’ve seen numbers, I guess that puts [the properties] on the block.”
Dan’s Papers would reportedly not be part of any deal.