Hearst Set To Buy 'San Antonio' Magazine: Report

Hearst is about to acquire San Antonio Magazine, a publication that recently said it is shutting down. 

The price is $150,000 in cash plus an amount equal to 90% of the magazine’s receivables, according to the San Antonio Current. 

The Current writes that it has seen a contract that awaits signature by the parties.  

Hearst owns the San Antonio Express-News. 

Kathleen Petty, the editor in chief of San Antonio magazine, recently sent an email stating the publication is closing, according to the Current. The magazine is owned by Open Sky Media Inc. 

Hearst had not yet responded to a request for confirmation at deadline. 




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