Sacramento Magazine has been purchased by a Michigan-based media company, according to sources familiar with the deal.
Financial terms of the acquisition by Royal-Oak-based Hour Media LLC were not disclosed. Royal Oak is a northern suburb of Detroit.
Hour Media oversees magazines in Michigan and Minnesota, including Hour Detroit magazine.
Former Sacramento Magazine owner and co-publisher Mike O’Brien is not staying on, but all other Sacramento Magazine staffers will be retained. Joe Chiodo, who served as co-publisher with O’Brien, continues on as the sole publisher of the magazine.
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O’Brien bought Sacramento Magazine in 1993. He had owned a 10 percent stake in the magazine since 1986 but purchased full interest for an undisclosed amount from Micromedia Affiliates of Morristown, N.J.
Call The Bee’s Mark Glover, (916) 321-1184.