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.”
Peerless plans to keep the entire supply chain group staff together.