Emmis Communications ended up selling Los Angeles magazine and three other titles to Troy, Mich.-based Hour Media for the fire-sale price of $6.5 million — a significant discount off the price it paid for the company.

The other titles included in the deal are Atlanta Magazine, Cincinnati Magazine and Orange Coast.

Back in 2000, Emmis had beaten out Primedia, the then-owner of New York Magazine, to acquire Los Angeles Magazine for $30 million.

“The market has not been good,” conceded Emmis CEO Jeff Smulyan, who said that, with the retreat from publishing, the company will concentrate on its 20 radio stations, including three in NYC: Hot 97 (WQHT-FM); WBLS-FM 107.5 and; the AM station WLIB 1190.

Emmis will hang onto Indianapolis Monthly in its hometown as its last magazine media.