Metro International Offloading US Titles, Moving Out Of London

Cash-strapped freesheet publisher Metro International is selling off loss-making Metro USA, its US newspaper business, to Seabay Media, a company formed by its former CEO Pelle Törnberg. The deal means a new owner for the New York and Philadelphia editions of the commuter paper, plus the Boston edition, of which it owns 51 percent in a partnership with the Boston Globe. The three have a combined 590,000 daily circulation and 1.2 million readers. Seabay will continue to publish the Metros under license from the London-based Swedish group, which will continue to sell their advertising and will save it