BANGOR, Maine — Bangor Metro, a 6-year-old magazine that focuses on business, lifestyle and opinion in eastern Maine, is being sold to a group of Bangor-area business leaders, Publisher Mark Wellman confirmed Tuesday.
Webster Atlantic Corp., the magazine’s publishing company, has entered into an agreement with a group of Bangor business professionals who will take over the magazine.
“We have personally decided to move in a different direction in our lives. But that does not mean that we are not proud of the work that was done on this magazine,” Wellman said of his decision to sell the monthly publication.
The purchase price was not disclosed.
“We wish the new owners the best of luck, and look forward to reading more great stories about the Bangor region and its people, businesses and attractions for years to come,” Wellman said.
Jack Cashman, a longtime local businessman who served as senior economic adviser and commissioner of economic and community development in the Baldacci administration, is the majority investor. The names of the other investors were not available Tuesday.
“This is a popular magazine,” Cashman said in a news release issued Tuesday. “The positive tone of this magazine is one of the reasons I have been interested in it.”
“We will continue that positive focus on the Bangor region and eastern Maine and add a few new features to enhance the interest of the readers,” Cashman said. “We’re excited about this and look forward to the next issue and future monthly issues hitting newsstands.”
While the sale is not yet complete, plans to release a March issue of Bangor Metro are moving forward.