The Business Journal in Youngstown, Ohio, has been sold to Sapientia Ventures, a local investment group, for an undisclosed amount.
A story on its website states, “Former majority owner Andrea Wood, who co-founded the company in 1984, will stay on as president and publisher. Michael Moliterno, chief operating officer, remains a minority shareholder.
“‘Readers, advertisers and supporters of The Business Journal will continue to receive the same high-quality journalism and uninterrupted business news coverage that they have come to expect. There will be no changes to our staff, whom the new owners recognize as the engine that drives the tenured success we’ve been able to achieve,’ Wood says.
“Wood says the new owners bring a strength in understanding the evolving technology that is changing consumers’ media habits.”
Read more here.