"The Philadelphia Citizen, the decade-old nonprofit dedicated to solutions journalism and civic engagement, has acquired Philadelphia Magazine. As part of the acquisition, announced on Friday, the 117-year-old Philly Mag will transition to a nonprofit under an umbrella 501(c)(3) Citizen Media Group. It's the latest example of two national media trends - legacy news organizations converting to nonprofit status and consolidation in nonprofit news - pursued as bids for survival in a contracting industry."
"Earlier this year, the parent company of Philly Magazine, Metro Corp, sold Boston Magazine to The Boston Globe. In an interview with The Globe in January, Metro Corp. chairman and CEO David Lipson acknowledged the succession challenge that threatens dwindling, family-owned local news outlets like his across the country. "I'm getting older, and the business is changing, and none of my kids were interested in getting into the business," he told The Globe."
"Larry Platt, co-founder and co-executive director of The Citizen, said the "distinct but intertwined brands" will help readers learn how to "live well and do good in Philadelphia" in a manifesto-like announcement. The new editor of Philly mag, Christy Speer Lejeune, said she envisions the magazine as "Philadelphia's ultimate user's guide." In the announcement, Platt also laments the ascent of polarization as a "new cultural religion"."
The Philadelphia Citizen, a decade-old nonprofit focused on solutions journalism and civic engagement, acquired Philadelphia Magazine and will transition the 117-year-old magazine to nonprofit status under an umbrella 501(c)(3) Citizen Media Group. The move reflects broader industry trends of legacy outlets converting to nonprofits and consolidation among nonprofit news organizations as survival strategies. The sale was funded by investors led by venture capitalist Richard Vague and CEO Michael Forman, and followed Metro Corp.'s earlier sale of Boston Magazine to The Boston Globe. Leaders emphasized combining local service journalism and lifestyle guidance, citing aims to strengthen democracy and counter polarization.
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