Investors Snap Up 8020 Publishing LLC
Narrowly avoiding shutdown, 8020 Publishing LLC, a magazine company with a user generated content-based model, announced that its assets were sold to a group of private investors following a weeks-long search for a buyer.
In an unusual twist, photographic equipment retailer Adorama Camera Inc. will become a minority owner in the new company, to be called 8020 Media.
Earlier this year, 8020 president and CEO Mitch Fox said that due to the economic downturn and dwindling funds, he was forced to shut down the company.
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