Philadelphia Magazine sold to The Philadelphia Citizen; it will now function as a nonprofit organization.
In a significant development for Philadelphia’s media landscape, the nonprofit organization Philadelphia Citizen has acquired the long-established lifestyle publication, Philadelphia Magazine, concluding months of speculation about the future of the 117-year-old magazine. This acquisition becomes a pivotal moment for both institutions as they transition into a new era of nonprofit journalism.
Larry Platt, former editor of Philadelphia Magazine and co-founder of Philadelphia Citizen, will now assume the role of president and CEO of Citizen Media Group, a new entity that will oversee both Philadelphia Magazine and the Philadelphia Citizen. Under his leadership, the magazine is set to continue publishing both print and digital content, while adopting a nonprofit structure aimed at fostering community-focused journalism.
Despite the transition, Platt confirmed that there will be no layoffs for the magazine’s journalists. However, eight positions in shared services related to advertising and marketing, as well as a full-time fact-checker, will be eliminated. Specific financial details regarding the sale have not been disclosed, although the Lipson family, who has owned Philadelphia Magazine since 1946, acknowledged the change as a new direction for the publication.
Philadelphia Magazine, known historically for its affluent Main Line readership, faces the challenge of redefining its identity under new stewardship. Immediate staffing changes include Christine Speer Lejeune being promoted to Editor and the hiring of Ronnie Polaneczky as senior editor, aiming to bring fresh perspectives to the magazine’s content. Platt and Roxanne Patel Shepelavy, executive director of Citizen, plan to revamp the magazine and its website, enhance social media engagement, and introduce a daily podcast aimed at broadening its audience.
The nonprofit model is projected to allow for innovative revenue streams, such as corporate sponsorships and foundation support, leveraging the magazine’s legacy to promote community-oriented initiatives. Platt has expressed confidence that this model will pave the way for growth, citing past undercurrents of nonprofit operations within the magazine’s framework.
Financed by a group led by venture capitalist Richard Vague and Future Standard CEO Michael Forman, the acquisition marks a noteworthy shift in Philadelphia’s media ecosystem. Former Comcast CEO David L. Cohen chairs the Citizen Media Group board, indicating a commitment to revitalizing local journalism.
As this merger was in discussions for approximately 16 months, it reflects a broader trend within the industry, where traditional publication models are being reexamined in favor of community-driven approaches that prioritize local engagement over profit margins. The collaboration of these two institutions is anticipated to infuse Philadelphia Magazine with renewed vitality and direction, enhancing its role as a significant voice in the city’s narrative.
Moving forward, the Citizen Media Group aims to embrace new voices and perspectives, preparing to navigate the evolving landscape of media and public engagement in the years to come.
