Founded in 1978 by a group that included actor Michael Douglas, LA Weekly is known for its cultural coverage
of Los Angeles and has won more awards from the Association of Alternative Newsmedia than any other publication in the country.
Voice Media Group (VMG) is putting the alt-weekly, which has more than 3 million monthly users visiting its site, up for sale.
The LAWeekly is profitable, but the company says it wants to focus more on its digital agency business. It will reduce its print newspaper holdings as a result.
In January 2013, VMG sold the SF Weekly to the San Francisco Newspaper Company. Since then, the company has also sold the Seattle Weekly, Riverfront Times of St. Louis, City Pages of Minneapolis, OC Weekly in Orange County and The Village Voice in New York City.
"Just as motivated buyers stepped forward in other cities, we expect to see a great level of interest in the Weekly," stated VMG CEO Scott Tobias.
Tobias also offered to sell digital advertising and national ads to the new owner of LA Weekly, as well as offering Web and digital support through V Digital Services. VMG currently provides these services for the owners of City Pages, OC Weekly and Riverfront Times.
The LA Weekly hosts numerous events as well. Its June "Tacolandia" event draws thousands to sample tacos from taquerias worldwide. In March, consumers can try the most popular dishes at L.A.'s top restaurants at "The Essentials" event.
VMG currently owns Phoenix New Times, Miami New Times, Denver Westword, Dallas Observer and Houston Press.