Scientific American (informally abbreviated SciAm) is an American popular science magazine. Many famous scientists, including Albert Einstein, have contributed articles in the past 170 years. It is the oldest continuously published monthly magazine in the United States(though it only became monthly in 1921). 

"Scientific American" was founded by inventor and publisher Rufus M. Porter in 1845 as a four-page weekly newspaper. Throughout its early years, much emphasis was placed on reports of what was going on at the U.S. Patent Office. It also reported on a broad range of inventions including perpetual motion machines, an 1860 device for buoying vessels by Abraham Lincoln, and the universal joint which now can be found in nearly every automobile manufactured. Current issues include a "this date in history" section, featuring excerpts from articles originally published 50, 100, and 150 years earlier. Topics include humorous incidents, wrong-headed theories, and noteworthy advances in the history of science and technology. 

Porter sold the publication to Alfred Ely Beach and Orson Desaix Munn a mere ten months after founding it. Until 1948, it remained owned by Munn & Company. Under Munn's grandson, Orson Desaix Munn III, it had evolved into something of a "workbench" publication, similar to the twentieth-century incarnation of "Popular Science".
Was it sold soon thereafter?
Porter sold the publication to Alfred Ely Beach and Orson Desaix Munn a mere ten months after founding it