For decades, many American cities had at least one thriving alternative-weekly newspaper chronicling the local art and music scene and reporting on the community.
Many of those publications withered in recent years, but two of the country’s best known alt-weeklies, The Stranger in Seattle and The Portland Mercury, now have plans for expansion.
Mr. Walkinshaw declined to disclose the financial details of the purchase, but he said that he was the majority shareholder.
Index will keep a 20 percent stake in the company.
A group of about 20 individual investors helped finance the deal, Mr. Walkinshaw said.
Persons:
Brady Walkinshaw, Walkinshaw
Organizations:
The Portland Mercury, Democratic, Portland Mercury, Index Newspapers
Locations:
Seattle, Washington State