Parent Company of Advocate to Be Sold: An investor group has signed a letter of intent to purchase Liberation Publications Inc., parent company of the Advocate, the nation’s oldest and largest gay and lesbian news magazine. The group is led by Sam Watters, a New York-based entrepreneur. Watters will serve as CEO of the company out of its Hollywood headquarters. Terms of the seven-figure deal are not being disclosed. The magazine is now owned by Niles A. Merton, chairman of the board of LPI and publisher of the Advocate. LPI publishes a number of other magazine titles also aimed at gays.
From Times Staff and Wire Reports