Interweave Press, a craft publishing company, was founded in 1975 and helped push the revitalization of downtown Loveland by moving into the former First National Bank building in 1990.

The terms of the deal were not disclosed.

Magazine entrepreneur Clay Hall and a group of investors formed Aspire Media in 2003 with about $40 million to invest in enthusiast magazine publishing companies.

Hall, chief executive officer of Aspire Media, will become the new CEO of Interweave Press, replacing founder Linda Ligon as owner. Ligon will remain with the company as the creative director.

Interweave Press publishes seven magazines, among them Natural Home and Garden, Beadwork and Piecework, as well as a number of books on craft construction and knitting.

According to Hall, the new company will focus on investing more capital in the business and buying other enthusiast magazines.

Through the acquisitions, an Aspire brochure says, the investors hope to build a company with annual revenues of $100 million or more.

Discussion of various newsgroups about the buy out are worried that Aspire is only interested in turning a quick buck in the currently hot craft market and may well kill off the company when the market cools off.

Magazine publisher Interweave Press sold — Loveland FYI