Voice Media Group, which publishes LA Weekly, OC Weekly and other alt-weekly properties, hired Santa Fe, N.M., investment bank Dirks Van Essen & Murray to “explore new strategies,” including the sale or acquisition of its publications, the company announced Tuesday afternoon.
Voice Media, headquartered in Denver, has already decided to sell its Orange County paper. Andy Van De Voorde, executive associate editor at Voice, said the company would also consider a partnership with investors instead of a flat-out sale.
“I won’t lie, it was a rough year in Orange County, the last year, but I think it’s poised for profitability,” Van De Voorde said.
He also said LA Weekly fans need not fear: that paper is not slated for sale at this time.
“In California, our priority is focusing on OC Weekly,” Van De Voorde said.
Sources at LA Weekly said they were not concerned that their publication would also be put up for sale.
OC Weekly editor Gustavo Arellano said he expects to keep his team and position in place, regardless of owner.
“The fact that they’re trying to sell us means that we have value,” Arrelano said. “We’re uniquely positioned in that we have no corollary here in Orange County. Other papers in other markets have to deal with other competitors like Buzzfeed on the digital side, but Orange County is still a wasteland of media and we occupy a very specific space.”
The move to sell OC Weekly and other papers is part of Voice’s “long-range vision to fine-tune its portfolio,” the company said in a statement.
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