Am I missing it, or has there been no thread discussing Spin being sold?
"Miller Publishing's Spin magazine is close to a sale to Hartle Media, Folio reports. Sources had speculated that the sale price for the magazine, which once sold for $42 million, would be close to $5 million, but one source said that the actual cash value of the transaction, after the assumption of a subscription liability, would be significantly less.
Last year, Miller was offered an unsolicited $100 million for both Spin and Vibe, but decided to open up the sale to other bidders.
Spin has reportedly been losing up to $3 million a year and marketshare - both in terms of advertising and cache - to mags like Blende. Last year, the 550,000-circ Spin took in $33.83 million PIB revenue - flat when compared to 2004 - on 580 ad pages, a decrease of four percent."
― juana, Sunday, 19 February 2006 17:37 (nineteen years ago)
5 million? Jesus, talk about depreciation.
― TorreyPines, Sunday, 19 February 2006 17:39 (nineteen years ago)
i think if everyone on ILX throws down a grand, we could buy spin
― gear (gear), Sunday, 19 February 2006 17:41 (nineteen years ago)
I actually really like that idea! Good god it would be fun for the half an issue before we ran it into the ground.
― Sterling Clover (s_clover), Sunday, 19 February 2006 18:29 (nineteen years ago)
...then again a grand could get me a huge bag of sticky and a date with a vegas showgirl.
― Brian Jones (Brian Jones), Sunday, 19 February 2006 19:10 (nineteen years ago)
If you were running a magazine, who would be on this month's cover? I would have the Flaming Lips. Inside there would be a 16-page pullout career retrospective, and my own personal amazement...
― Brian Jones (Brian Jones), Sunday, 19 February 2006 20:48 (nineteen years ago)
ha, here's the actual Folio story:
http://www.foliomag.com/viewmedia.asp?prmMID=5486
"Sources had speculated that the sale price would be close to $5 million, the price tag reported last week by Women's Wear Daily."
― Eggzakly Huhh? (zachary v.), Monday, 20 February 2006 03:19 (nineteen years ago)