After 15 years of steady ownership, Worcester Magazine has been sold to the Holden Landmark Corporation, owner of The Landmark, Bay State Parent, Fitchburg Pride, among others.
The following press release was just sent out by the Holden Landmark Corp:
HOLDEN LANDMARK CORPORATION TO PURCHASE WORCESTER MAGAZINE
Acquisition to double company’s newspaper circulation
Worcester, MA (Aug. 15, 2008) The Holden Landmark Corp. has reached an agreement to purchase Worcester Magazine from Worcester Publishing, Ltd.
“We’re thrilled to be entrusted with this wonderful Worcester institution,” said Publisher Gareth Charter. “For more than 30 years, Worcester Magazine has been the intelligent alternative in Worcester and we plan to only enhance that by growing the publication in print and online.”
Worcester Magazine circulates 34,000 free copies weekly throughout Worcester and neighboring communities. The combined circulation of the Holden Landmark Corp’s five other weeklies in Central Massachusetts equals approximately 30,000. The company also publishes Bay State Parent magazine, distributing 40,000 copies monthly.
“Advertisers will have an increasingly effective alternative to either target an individual community, all of Central Mass., or combinations in-between,” said Charter.
“Readers know and love that Worcester Mag will report news and tell stories straight from the heart of Worcester – stories that aren’t being told anywhere else. We will build on that spirit and look to further grow the region’s leading source for arts, entertainment, dining and nightlife.”
Worcester Magazine is enjoying a resurgence in 2008, with significant advertising growth over 2007.
“This is a major event in my own life and the history of the magazine,” said Allen W. Fletcher, longtime publisher and owner. “I’m extremely proud of what we’ve done in the last 15 years, and I’m confident that I’m passing it on to capable hands. The magazine will continue to be a strong and important voice in the city.”
Worcester Magazine will continue to be published from its office at 101 Water Street in Worcester, and at worcestermagazine.com.
The acquisition is expected to close Aug. 29. Terms were not disclosed.