The team, which is led by group publisher Brian Ceraolo, expects the sale to be completed by April 30. The brands will operate under Peerless Media, a new entity, which said there would be no interruption in the mailing of print issues.
“It's a privilege to have the opportunity to provide continuity with these great brands,” Ceraolo said in a statement. “They are deeply-rooted in the landscape of their respective industries. Both our customers and our readers made us very aware of that in the past week.”