SouthComm Inc., the parent of NashvillePost.com, announced today it has acquired Creative Loafing Charlotte and Creative Loafing Tampa from CL Inc., the parent of the chain of alternative newspapers. Terms of the transaction were not disclosed.
The Charlotte and Tampa publications are the fourth and fifth alternative weeklies under the SouthComm umbrella. The company also owns the Nashville Scene, LEO in Louisville and the Kansas City Pitch. CEO Chris Ferrell said SouthComm’s latest expansion fits its model of operating niche publications in mid-sized cities throughout the Southeast and Midwest.
“Creative Loafing is a very strong brand and these two papers are well read and well run,” Ferrell said. “We look forward to having them as part of the SouthComm family of publications. We are excited to grow in Charlotte and Tampa, which are very good cities for us to build out our model of having multiple niche publications in each market.”
Creative Loafing Charlotte was founded in 1987, its Tampa sister publication a year later. The Creative Loafing chain is owned by New York-based hedge fund Atalaya Capital Management, which acquired the publications out of bankruptcy in 2009 for $5 million.