The publisher announced in a statement Monday that it had signed a binding letter of intent to purchase Vancouver Free Press, the sole owner and operator of the Georgia Straight.
Longtime Vancouver alternative weekly The Georgia Straight has been sold to Media Central for $1.25 million.
The deal is set to be complete by Feb. 28, 2020 and will see Media Central pay $750,000 in cash, along with $350,000 in common shares of the company. “While the North American media landscape continues to change, traffic and readership at the alternative weeklies has remained steady. Media Central sees a huge opportunity to consolidate and protect the soul of North American weeklies and unify their passionate base of alternative followers with a smart, and scalable business model.”
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