The sale of the magazines, for £87,500, marks a retreat for SMG - publisher of the Daily Sport - from the magazine business.
Front, whose circulation has dwindled from a high point of 150,000 in 2000, to an unaudited circulation of about 40,000, has been acquired by Kane, a newly formed independent company headed by Ridley and entrepreneur Dominic McVey.
SMG paid £125,000 for Flip Media, the owner of Front, Hotdog and DVD World a year ago, in an effort to diversify its portfolio. It also agreed to pay off £140,000 in loans made to Flip as part of the purchase. SMG sold DVD World to Fire Publishing six months ago and Hotdog ceased publication in late 2006.
The move by Kane is bold in the current magazine market, with the lads sector haemorrhaging sales in recent years.
However, SMG claims Front has increased sales in recent months with its July issue marking four months of consecutive rises, giving the magazine an overall circulation of 39,658, according to figures from distributors Comag.
Front is also said to be applying to be ABC audited and its new owners plan to up distribution by 13,000 copies, with extended reach across supermarkets and independent retailers.
The current editorial team will remain at the magazine, according to the new owners.
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