South Carolina biz publications sold to private investment group

Charleston Regional Business Journal, GSA Business, the Columbia Regional Business Report and SCBIZ magazine have been sold to a private investment group, according to a story on the Charleston paper’s Web site.

All four publications are located in South Carolina. All had been owned by Brown Publishing, which had gone through a Chapter 11 bankruptcy court reorganization earlier this year.

The story states, “SC Business purchased the publications from a holding company that had bought the publications from the bankruptcy estate of Ohio-based Brown Publishing Co.

“SC Business consummated the purchase with capital from Virginia Capital Partners LLC, a Richmond, Virginia based private investment group. Terms of the transaction were not disclosed.

“Existing management will remain in their current roles with Lisa Jones as publisher of GSA Business and Bob Bouyea as publisher of the Columbia Regional Business Report. Grady Johnson, who has been named president and who will continue as group publisher, is looking forward to growing the business.

“‘We are anxious to return our focus to growth and serving the state’s business community. With the assistance of Virginia Capital, we look forward to continuing our mission as South Carolina’s media engine for economic growth,’ Johnson said.”

Read more here. Virginia Capital is also an investor in Virginia Business, a monthly business magazine.

Other former Brown Publishing business publications that have been sold in recent months include Utah Business magazine, the The Business Ledger in Naperville, Ill. and the Fort Worth Business Press  and Collin County Business Press in Texas.