Seattle Met, a Seattle-based monthly magazine, has new ownership and has begun layoffs. The changes follow the acquisition of its parent company, SagaCity Media, by Hour Media. The sale concludes SagaCity Media's period of financial struggle.
What happened
Hour Media acquired SagaCity Media, the parent company of Seattle Met and other magazines, in March. Following the acquisition, layoffs began at Seattle Met. SagaCity Media had entered a receivership last November before the sale.
How many employees affected
The exact number of total employees affected is not stated. However, the layoffs included Seattle Met's editor-in-chief, Eric Nusbaum, who had held the position since March 2023, along with two editors and an art director.
Why layoffs happened
The acquisition occurred after SagaCity Media struggled to return to profitability. The company sold its collection of publications to Hour Media after entering a receivership.
Company background
Seattle Met is a monthly city magazine covering news, culture, and lifestyle in Seattle. It was first published 20 years ago. SagaCity Media also owns Portland Magazine in Oregon, Park City Magazine in Utah, and Vail Beaver Creek Magazine in Colorado.
Industry impact
The acquisition and subsequent layoffs reflect the challenges faced by print media in maintaining profitability in a changing media landscape.
What's next
Hour Media now owns Seattle Met and other former SagaCity Media publications. The future direction of the magazine under new ownership remains to be seen.
Source: kiro7.com, mynorthwest.com