Bad Business for Magazines About Business

Bad Business for Magazines About Business: David Carr’s byline is back on a magazine-industry story in the business section of today’s NY Times.
A long story. A story worth reading. A must-read story if you’re in the
general business magazine field. I wonder why it’s running on the
lite-reading holiday?

Quote:

When the Meredith
Corporation announced its purchase of Gruner & Jahr’s women’s
magazines last Tuesday, Meredith said that Gruner’s business magazines,
Fast Company and Inc., were not “material” to the sale. What that means
is that two magazines that sold for more than half a billion dollars
four years ago now have a value of zero.”

(Thanks, David.)

  • Tom

    Wow, that is very scary. The Inc. Franchise used to be worth a great deal.

  • rex

    I believe Carr’s “zero value” statement is a bit of hyperbole. While their $1 billion valuation four years ago was beyond imagination, to think they are worth zero now is equally misguided.