The Long Beach Business Journal (Signal Hill, California) has been sold, publication owner George Economides announced.
Effective Feb. 4, John Molina and his Pacific Community Media (PCM) company assumed ownership and management. PCM owns the Long Beach Post and its publisher, David Sommers, is taking on the role of publisher of the business journal. PCM is a subsidiary of Pacific6, a Long Beach-based development firm with six local partners, including businessman John Molina, says the journal.
In June 2018, PCM bought the Long Beach Post, which has since quadrupled its editorial and business staff, according to the business journal.
“I’m happy to sell to a fellow Long Beach booster,” Economides said. “John has vowed to treat our employees and the business’s legacy with respect, and he has the resources to implement additional offerings to our advertisers and readers that we’ve been wanting to start for years.”
A major reason behind Economides selling his business was having a stroke in spring 2019, he said.