New Times to Acquire Village Voice Media

october 23, 2005  08:35 pm
The New York Times is reporting that the long-rumored deal will finally be announced on Monday. The merged company will be called Village Voice Media, and 62 percent of it will be owned by New Times' current shareholders. The Times says the merger "will undoubtedly raise questions about whether The Voice and its siblings can preserve their anti-establishment roots as part of a growing corporation." But New Times' Jim Larkin says, "I'm doing it because I love good journalism. I want to have newspapers in the most exciting markets in the country. This is not a financial play." Larkin also says he and his partners expect to buy out VVM's financial backers in five years.