Texas Monthly sells to billionaire oil and gas heiress
Texas Monthly the "National Magazine of Texas" has been bought by billionaire oil and gas heiress Randa Duncan Williams.
Williams is purchasing the Austin-based monthly magazine from Genesis Park, a private equity firm founded by Paul Hobby. She is chair of the newly formed company, Texas Monthly LLC. With the sale, Texas Monthly will change hands from one prominent Texas family to another.
The private companies would not disclose the price or terms of the deal. The transaction is effective June 30.
Williams said in a statement that she's read Texas Monthly since she was a teenager. As the new owner, she plans to step up investment in its journalism, marketing of subscriptions and expansion into other kinds of storytelling, such as podcasts and live events.
Read more: https://www.dallasnews.com/business/business/2019/06/25/texas-monthly-bought-billionaire-oil-gas-heiress