The Express-News' parent company is buying San Antonio Magazine

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Hearst Corp., the owner of the San Antonio Express-News, appears to be near a deal to buy recently shuttered San Antonio Magazine, a document obtained by the Current shows. New York-based Hearst will pay $150,000 in cash plus an amount equal to 90% of the magazine's accounts receivable, according to a purchase agreement between the two companies.

New York-based Hearst will pay $150,000 in cash plus an amount equal to 90% of the magazine's accounts receivable, according to a purchase agreement between the two companies.

The copy of the contract obtained by thein a promotional email sent out last month. The email, signed by the publication's editor-in-chief, Kathleen Petty, gave no reason for the closure.

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