The group, which already owns the Test Match Extra website, includes ex-Leicestershire chairman Neil Davidson, BBC cricket correspondent Jonathan Agnew, Tory junior minister Lord Marland, TV cricket analyst Simon Hughes and MCC president Christopher Martin-Jenkins.
According to The Guardian, magazine editor John Stern and his team will remain in place, but former London Evening Standard deputy editor Andrew Bordiss will come in as the publication's new managing director.
Bordiss praised the Wisden Cricketer for speaking with "an independent and authoritative voice". He added: "We will merge this impressive magazine operation with the Test Match Extra website ... and create the definitive media platform for English cricket."
The Wisden Cricketer was launched in 2003 following the merger between The Cricketer and Wisden Cricket Monthly. It was acquired by Sky in 2007.