Updated July 16 at 1:30 p.m.
Stephen Buel, who stepped down Saturday as the publisher of the East Bay Express, said he and his wife plan to sell the alternative weekly and the rest of their publishing company, according to an email Buel sent to KQED Monday.
"I made a couple mistakes in the past month, and another one a decade ago, but the universe doesn't seem to believe in forgiveness at the moment," Buel wrote. "So I stepped down because that seemed like the best way to safeguard our company's journalism and jobs."
Buel resigned Saturday as the publisher, a day after publishing an editorial where he admitted to using a racial slur for African-Americans and other "hateful words" during a meeting with staff members last month.
"I have no idea what I will do in the future, or where I will do it," he wrote. "After working seven days a week this past year to save the East Bay Express from extinction, I'm feeling like it's time to focus on quality-of-life issues."