Seattle Magazine Acquired By Local Entrepreneur

Seattle magazine is coming home. The 54 year-old monthly has been acquired by local entrepreneur Jonathan Sposato, co-founder and chairman of the tech site GeekWire.com and the online photo editing service PicMonkey, he announced Monday. Terms of the deal were not disclosed. The seller, Minnesota-based regional magazine publisher Tiger Oak Media, which has owned the magazine since 1999, filed for Chapter 11 bankruptcy protection last October, reporting at least $2 million in debt owed to vendors and other creditors. In a statement, Sposato, who grew up in nearby Edmonds, Wash. and began his career at Microsoft, said he plans to invest in the publication's digital presence and expand its editorial team, including adding "multiple new hires immediately." “All the great ideas from Seattle end up influencing the rest of the world, and it’s time we defined ourselves with more swagger as the world class city we’ve become," he said. "Seattle magazine will become the richest source of untold and provocative stories that shape this incredibly diverse and culturally rich city." Seattle magazine traces its roots back to Pacific Search, the natural science journal launched by Harriet Bullitt, daughter of King Broadcasting Co. founder Dorothy Bullitt, in 1966. The publication was renamed Pacific Northwest in 1980, gradually expanding its lifestyle coverage and earning a General Excellence nomination at the National Magazine Awards in 1982. It changed hands three times in the two... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2020-03-02 22:55:02 UTC ]

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