Here Publishing, which owns such LGBT titles as The Advocate and Out, announced on Thursday that it is under new ownership.

Oreva Capital, a Los Angeles-based investment firm, funded the management-led buyout of Here Publishing.

Oreva CEO Adam Levin said in a press release that he sees niche media as a safe bet.

“There is no better bet in media or advertising these days than on passionate, connected communities,” said Levin, who will represent Oreva on the board of directors. “We are excited and feel extremely honored to have the opportunity to work with brands such as The Advocate, Out and Pride and realize their next phase of growth.”

Earlier this year, Levin became the acting CEO of High Times, the leading magazine that advocates the legalization of cannabis.

Other properties in the deal include Pride, Plus, Out Traveler and The properties will be rebranded as Pride Media, Inc.

Levin told Reuters that he plans to grow Pride Inc's events business, which currently stands at 5 percent of the company's revenue, to 25 to 30 percent, and increase its digital business from 12 million monthly visitors to 15 to 18 million within the next 12 to 18 months.

The properties were purchased in 2008 from struggling PlanetOut.