Houston Equity Firm Buys Texas Monthly
Founded in 1973, the magazine has been owned since 1998 by Emmis Communications.
It did not take long for Emmis Communications to find a buyer for Texas Monthly. Per an announcement on Thursday, a $25 million deal has been struck by the Indianapolis publisher with Genesis Park, LP, a Houston equity firm headed by Paul Hobby.
The magazine, based in Austin, is reconnecting with some impressive Texas lineage. Per the Houston Chronicle:
Hobby, the firm’s founder, is the grandson of former Gov. William P. Hobby, who also was publisher of the now-defunct Houston Post.
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