Editor & Publisher, a magazine which has chronicled the US newspaper industry for over a century, was sold on Thursday, exactly two weeks after being shut down by its owner, the Nielsen Co.
Online version of Editor & Publisher Magazine
Duncan McIntosh Co. the Irvine, California-based publisher of Boating World and other magazines, announced it had bought E&P for an undisclosed price from Nielsen.
"Such a critical information source for a newspaper industry so desperately in need of help should not go away," said Duncan McIntosh, whose company also produces the Newport Boat Show.
"I've been a reader of E&P over the course of 30 years and know its incredible value to readers and advertisers," McIntosh said.
Duncan McIntosh Co. said Charles McKeown will remain publisher of E&P.
"Everyone knew what was at stake here," McKeown said.
"Newspapers, which are transforming beyond the printed page to all forms of digital media, simply could not lose the one place where the industry could have a conversation with itself and exchange ideas and best practices for navigating the uncertain waters ahead," he said.
Known as the "bible" of the news industry, E&P has been closely following the struggles of a US newspaper industry grappling with declining circulation, falling print advertising revenue and the migration of readers to free news online.
E&P's new owner said there would be a February print issue of the magazine. E&P's website immediately resumed operations upon the completion of the sale.
Nielsen announced last month it was closing E&P and Kirkus Reviews, a book review publication which was founded in 1933, and selling several other brands including the Hollywood Reporter and Billboard.
Editor & Publisher was launched in 1901 and merged in 1907 with The Journalist, a weekly founded in 1884.