American Public Media Group announced Monday that it has sold its publishing arm, Greenspring Media Group, to Detroit-based Hour Media.
Greenspring, which publishes Minnesota Monthly, will keep its headquarters in Minneapolis, according to the Pioneer Press. APMG, the parent company for Minnesota Public Radio, doesn't know if the roughly 50 Greenspring jobs will still be in place.
Hour Media has acquired all of Greenspring’s assets and plans to continue to produce its publications—such as Minnesota Monthly, Midwest Home, Drinks, RealFood, and Where Twin Cities — under their current titles, according to to Twin Cities Business.
"This sale allows us to channel our energies toward finding the best ways to serve our current audiences while reaching out to new and diverse audiences," APMG President Jon McTaggart said in a statement.
Minneapolis-St. Paul Business Journal says Hour Media publishes Hour Detroit, Detroit Home and DBusiness online and in print. No dollar amounts or other figures in the deal were disclosed.