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Village Voice Media Expected to Merge with New Times
Documents that “appear to be valid” regarding an alleged merger between Village Voice Media and New Times have surfaced, according to Tim Redmond of The San Francisco Bay Guardian (via Editor & Publisher). The agreement outlined in the documents calls for a nine-member board that would control a combined company called Newco. The New Times, which publishes 11 papers including the SF Weekly (the Bay Guardian’s rival), would own 62 percent of the equity, while Village Voice Media, with its six papers including the Village Voice, would own 38 percent.
The documents reportedly named November 30 as a closing date. If the deal goes through, it could be one of the largest in the alt-media world.