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Lang sale finalized

Published on .

MacDonald Publishing Corp., a new entity owned by 39-year old Jay C. MacDonald, finalized a much-talked-about deal to acquire New York-based Lang Communications Tuesday along with other investors for a price tag industry executives have pitted at $15 million.

Lang, which publishes Working Woman, Working Mother, and ad-free Ms., had been under pressure since early April to negotiate its future.

The company has been criticized by the trade press over the past year for a reduced-days summer work week policy and delayed or non-payment of some independent contractors such as freelance writers. The company sold Sassy to Petersen Publishing in 1995.

In other news at the company, Lynn Povich, editor of Working Woman, told staffers today she's resigning to become a consulting editor at MSNBC Interactive, the joint venture between NBC and Microsoft Corp. now developing an Internet news service and cable channel.

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