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Admittedly I'm not intimately familiar with the journalistic work of the new ownership, but they do good stuff that I've come across before, and a couple things in particular came to mind when I heard the news.
If you're a fan of the Elephant 6 band Neutral Milk Hotel (and you should be; In the Aeroplane Over the Sea is a stone masterpiece) and wonder what happened to creative mastermind Jeff Mangum, Creative Loafing Atlanta published the definitive piece.
The Book of Ralph, their graphic news journalism history of babyfaced former Christian Coalition leader and failed politician Ralph Reed is wonderful; the frame "Ralph Speaks Out" is a stunner.
You might also want to check out their recent blurb on late Georgia artist Benny Andrews, an Art Institute of Chicago grad (lots more here; I love "Patriots").
The Georgia podcast network has an interview with Webmaster Aaron Karp and Online Editor Laura Fries (since departed for the Association of Alternative Newsweeklies).
Update: Per the comments, it does appear that the Black Mafia Family series is not just great investigative journalism but also great storytelling.
May 08, 2007
Creative Loafing Writer Named Atlanta's 'Journalist of the Year'
Creative Loafing (Atlanta) Press Release (PDF file)
The Atlanta Press Club bestowed the honor on senior writer Mara Shalhoup at their annual gala last week. Shalhoup was cited in part for her three-part series on the rise of the Black Mafia Family, a cocaine-trafficking network with ties to a music label and violent crimes. "Since late 2004, my editor and I knew what an important story the Black Mafia Family's was," Shalhoup says. "Creative Loafing deserves a round of applause for its devotion to publishing the series." She will receive a $1,000 prize.
Good Luck!
unfortunately.... the masses want to see what's up with lindsay lohan's rehab. they want red eyes handed to them free at train stops by people in vests like programs at a church service. but the reader was never for the massives, and i have a feeling creative loafing understands this. or at least as a Reader fan i hope it does!