ATLANTA -- Officials with Emmis Publishing Corp., a subsidiary of the Indianapolis-based Emmis Broadcasting Corp., said Monday it has bought Atlanta Magazine from American Express for an undisclosed price.
Jeffrey H. Smulyan, chairman of Emmis Broadcasting Corp., pledged to maintain the quality of Atlanta Magazine, which has a circulation of 60, 000 and has won 69 awards since 1988, 29 of them national.
'Our goal is to enhance that quality, and obviously do it in line with some new economic opportunities we see within the market,' said Smulyan.
He said the financial success of the Indianapolis Monthly, owned by Emmis Publishing Corp., creates optimism forsimilar accomplishments in Atlanta.
'The publishing division has done an outstanding job in Indianapolis and seems to have found some answers in the city magazine business,' said Smulyan. 'We view Atlanta as a vibrant market -- the capital city of the South -- and we see tremendous opportunities to develop the city magazine business there.'
Emmis Publishing Corp. begins operating Atlanta Magazine immediately, headed by Editor-In-Chief Lee Walburn, who has served as editor since June, 1987, and newly named Publisher/Advertising Director Kris Hoefer, who formerly served as advertising director. Emmis Publishing Corp. vice presidents Deborah Paul and Jack N. Marsella will oversee the project.
Emmis Broadcasting Corp. owns and operates radio stations in New York, Los Angeles, Chicago, St. Louis and Indianapolis.
The sale of Atlanta Magazine completes the divestiture of all American Express city magazine properties. American Express previously owned L.A. Style, D Magazine and New York Woman. The company's nationally circulated magazines, Travel & Leisure, Food & Wine and Departures are managed by Time, Inc., under a recently completed agreement.
