The deal was something of a surprise; Manhattan Media's involvement had been kept quiet, and published reports said in April that Sandow Media, publisher of Worth magazine, was on the verge of buying 02138, which is named for Harvard's ZIP code.
While the price was not disclosed for the purchase, it sounds like they'll be keeping all their staff and increasing their publishing frequency. 02138 will be joining 10 other publications homed at Manhattan Media, including Avenue magazine, New York Press, City Hall and The Capitol.
All that translated, it looks like all the Ivy League schools will be getting their very own personalized quasi-Valleywags. It isn't necessarily a periodical I'd pay for, but then again I'm not an Ivy Leaguer, and in the tradition of New Media/Old Media fusion properties like this, they'll not be including a pay-wall in their plans, opting for an ad-only supported business model.