FOR IMMEDIATE RELEASE
August 31, 2009
Eastbay Express Publishing, LP, former owner of the East Bay Express, and East Bay Publishing, LLC the current owner of the East Bay Express, announced today they have reached an agreement to settle a lawsuit filed earlier this year.
That suit was filed by Eastbay Express Publishing LP, the Village Voice Media (VVM) affiliate that owned and operated the newspaper before it was sold in May 2007 to a new ownership group led by Hal Brody and Express editor Stephen Buel. It alleged that Brody and Buel still owed money on a note signed in connection with the sale of the Express.
However, Brody and VVM executive vice president Scott Spear said the parties have resolved that dispute, as well as settling all other issues raised by the parties in connection with the transaction.
“We are pleased to have been able to reach an agreement satisfactory to both parties,” said Brody. “It puts aside this distraction so we can all concentrate on running our daily business.”
Said Spear, “Brody still owes me dinner and a good bottle of wine.”