Media company buys Dan's Papers

A Madison Avenue media company has bought the Hamptons publication Dan's Papers from its bankrupt corporate owner and it will continue publishing the East End journal with founder Dan Rattiner, left, as editor.

The buyer, Isis Venture Partners, which also owns and runs Manhattan Media, closed the deal Friday, the trade journal Editor & Publisher reported.

The seller, Brown Publishing Co., is in Chapter 11 bankruptcy. The judge overseeing those proceedings approved the $1.75 million Isis bid, several reports said.

"Isis was the high bidder for the newspaper in a second auction held Monday after it became apparent that a trio of Brown Publishing insiders headed by CEO Roy Brown were unable to get financing for their $22.4 million bid for substantially all of the chain's dailies, weeklies and business journals," E&P reported.

Manhattan Media also publishes New York City magazines and community newspapers including Our Town East Side, West Side Spirit, New York Press and Westsider.

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