The Greenspring Company is the for-profit subsidiary of the non-profit American Public Media Group, and the parent company of the for-profit organization Greenspring Media Group, publishers of Minnesota Monthly and other publications. Profits gathered from Greenspring are funneled through American Public Media Group in order to help fund Minnesota Public Radio, although Greenspring is apparently taxed before this money flow occurs.
Greenspring previously owned The Rivertown Trading Company, which was sold to Target Corporation in 1998 for US$120 million. This move also controversially gave MPR founder William H Kling a $2.6 million payout. In 2004, the company sold the Minnesota News Network (MNN) to Saga Communications, apparently along with station WMNN. However the company kept KLBB and KLBP radio, which remained affiliated with MNN. Radio station WMNN was sold to Starboard Broadcasting organization, which programs the Catholic radio network Relevant Radio. In 2005, KLBB and KLBP were sold to Davidson Media Group for US$5.2 million.
Famous quotes containing the word company:
“The old idea that the joke was not good enough for the company has been superseded by the new aristocratic idea that the company was not worthy of the joke. They have introduced an almost insane individualism into that one form of intercourse which is specially and uproariously communal. They have made even levities into secrets. They have made laughter lonelier than tears.”
—Gilbert Keith Chesterton (1874–1936)