American Public Media Sells For-Profit Publishing Division
American Public Media Group has sold off its for-profit publishing division, Greenspring Media Group.
Financial details of the sale to Detroit-based magazine and online publishing company Hour Media were not disclosed.
APMG is the parent company of Minnesota Public Radio and its program distribution arm American Public Media. APMG President Jon McTaggart says the sale allows the broadcaster to focus on radio and digital content, both serving current audiences, while “reaching out to new and diverse” listeners.
MPR listeners receive the “Minnesota Monthly” magazine as part of their membership. The magazine contains an MPR program guide. The guide will remain in the magazine, which will continue to go to MPR members for free, according to the companies.
Hour Media also plans to keep the Greenspring headquarters in Minneapolis.
Regional Media Advisors represented American Public Media Group in the sale.