After weeks of rumors that the local LGBT publication was on the block, Out Front Colorado officials announced yesterday that the mag has been sold to Transformation Communication Group. What exactly comes with this news, we're not sure yet, but in recent months the main concern has been financial security. So far, the details behind the sale have yet to be disclosed.
"I'm not at liberty to discuss that at this time," senior managing editor Nic Garcia told Westword.
Out Front's first official day under new ownership is scheduled for this coming Monday, January 23, with its debut issue following the change scheduled for February 1. Founded by the now deceased Phil Price, Out Front has maintained its role as Colorado's largest contribution to the LGBT media for more than 35 years: The initial edition, seen here, came out in April 1976.
In recent months, however, the publication has been surrounded by financial rumors that it might not live out the year. In recent weeks, publisher and editor-in-chief Greg Montoya, now described on Out Front's website as "outgoing," told Westword's Michael Roberts that the magazine was "in negotiations" toward a new financial future.
In December, Garcia e-mailed a letter to the magazine's freelancers to let them know that Out Front, its newsletter and its website had all come to a halt. He apologized for notifying them via an e-mail but wrote, "Our publishers Jay Klein and Greg Montoya have been in meetings with a number of lawyers and potential investors/buyers since Christmas to find a solution to keep the organization open. I had hoped to have some answers by today, but I know nothing more than that. It has been a pleasure to work with each and every one of you. You'll be among the first to know if when a solution has been found."
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In the statement released on Out Front Colorado's website, Jerry Cunningham, Transformation Communication Group's president and CEO, expressed a desire to maintain the standards the magazine has long maintained. "Our commitment is to continue the operation with the same integrity, local focus and quality expressed in the credo that appeared in the very first edition of OFC," Cunningham wrote. "In the coming weeks and months we will strategically evolve and expand the news organization into a complete multimedia company."
We've made multiple interview requests to Out Front Colorado associates. Stay tuned to The Latest Word for updates.
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