Trade Magazine Publisher Buys S.F., Angeles Monthlies

From Associated Press

A publisher of trade magazines has purchased S.F. and Angeles, glossy home-design and fashion monthlies that appeared doomed when their parent company went under last month.

Steve Goldstein said he had purchased all of the assets "and none of the liabilities" of the two publications. A sister magazine, California, was not included in the deal. "S.F. and Angeles were pretty much where they were supposed to be, and climbing. Their problem was high overhead since they shared staff with California," Goldstein said.

The three magazines were published by Los Angeles-based California Magazine Partnership, 80% of which is owned by the media conglomerate Australian Consolidated Press. The other 20% was owned by magazine publisher Alan Bennett.

The partnership folded last month, citing declining ad revenue and the recession as contributing factors. Together, the three publications employed 150 people.

Goldstein said neither S.F. nor Angeles would skip any issues, although the staffs had disbanded. He said he is negotiating with some former staffers and editors of the two magazines and plans to open a San Francisco office within 90 days.

Goldstein owns Trade Show and Exhibit and Neo-Natal Intensive Care.

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