Shamrock Capital Advisors has sold Los Angeles-based Modern Luxury Media for nearly $250 million. A private-equity firm, Clarity Partners, bought a controlling interest in the company. Modern Luxury
publishes in nine markets and targets the affluent. It has upscale magazines in several cities, including Chicago, Los Angeles and San Francisco. It now reaches 3.5 million readers a month and has
revenues of $70 million. Shamrock sold its stake, which it bought in 2004, for nearly five times what it paid, said insiders.
