Modern Luxury Sale Nears Finish, Greenspun in Lead

The auction of Modern Luxury Media appears to be hitting the home stretch with a winning bidder expected to be announced soon or possibly in the next week, sources said. peHUB has learned that one of the two remaining bidders is Greenspun Corp., which owns Modern Luxury’s arch rival Niche Media. The identity of the other buyer is unclear although one source said the party is "not in media and not in private equity." Greenspun was rumored to be joining forces with private equity firm Irving Place Capital, whose CEO John Howard was once Niche Media investor. Howard said Monday there is "no such thing happening with IPC."

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