Euclid Media Group, the publisher of eight alternative newspapers nationwide, is selling its properties to its partners and will dissolve, according to media reports.
Terms have not been not disclosed.
The company published Cleveland Scene, Detroit Metro Times, Orlando Weekly and several other titles.
Michael Wagner and wife Cassandra Yardeni Wagner, have acquired Cleveland Scene, Orlando Weekly, Creative Loafing Tampa and the San Antonio Current through their Chava Communications.
Chris Keating, former Euclid partner and co-chief operating officer, is taking over Detroit Metro Times, St. Louis Riverfront Times,
“Cassandra and Michael, and Chris have all been involved since the beginning of Euclid Media Group and were involved throughout,” says Andrew Zelman, publisher of Cleveland Scene and former Euclid Media Group partner, according to Cleveland Jewish News.
Zelman adds, “They became more interested in having more stake in the ownership (of these publications) and we decided it was time to move away from that aspect. So, it evolved into (each of them having) visions and plans for their separate companies, and we felt it was time to move forward with that plan.”
Zelman will stay on as publisher of Cleveland Scene, Axios Ohio writes.