Modern Luxury, publisher of numerous regional magazines including DC magazine, acquired GreenGale Publishing LLC, publisher of Capitol File, reports the New York Post, which added that “Capitol File, a magazine written for Greater Washington’s wealthy set, is now listed as a Modern Luxury Publication, along with Modern Luxury D.C., Aspen Peak, Austin Way, Boston Common, Gotham, Los Angeles Confidential, Ocean Drive and Philadelphia Style, among others.
“Terms were not disclosed.
“Modern Luxury CEO Michael Dickey told the New York Post that he does not plan to close any of the newly acquired magazines, despite the fact that the two luxury mag publishers operated in several overlapping markets, including D.C. Modern Luxury now controls 84 regional magazines.”
Too funny. Not only have they shut down publications, they are so cash poor that they can’t pay vendors & employees and defaulted on the loan they used to purchase Greengale.