The company also plans to sell a number of its brands, including The Hollywood Reporter, to Global Media Holdings.
From E&P:
Greg Mitchell, editor since 2002, has hailed the staff and accomplishments, including a dozen major awards and strong showing on the Web for many years. Some staff writers/editors have been at E&P for a quarter of a century. "I'm shocked that a way was not found for the magazine to continue it some form -- and remain hopeful that this may still occur," he said.