Bay Guardian Report: Documents Detail New Times-VVM Merger Plans

august 29, 2005  04:12 pm
Executive editor Tim Redmond says his paper has obtained documents that "include a May 27, 2005, draft of a merger agreement between Village Voice Media and New Times." According to Redmond, "the draft calls for the creation of a new company controlled by a nine-member board," with New Times owning 62 percent of the new venture and controlling five board seats, and VVM retaining the rest. New Times owns 11 AAN papers and VVM owns six.