Fast Company: The deal, she is done

Well, mostly, almost, virtually, might-as-well-be-for-all-intents-and-purposes done. Folio lays it out, but the most glaring detail seems to be the reputed purchase price: $40 million for Fast Company and Inc. compared to the G+J purchase price of $550 million back in the day (aka 2000, when the money trees still grew aplenty). White Knight Joe Mansueto was apparently recruited by Fast Company editor John Byrne, and, in the words of MediaBistro Revolving Door maven Greg Lindsay, “if that’s true, then Byrne has accomplished what Michael Wolff failed to pull off during the sale of New York Magazine in 2003: the transition from mere employee to macher.” In the meantime, it’s an actual happy ending to the story: Mansueto becomes a mag mogul (as Mort, it’s fun!), Byrne stays on top, staffers keep their jobs and the magazines stay on the racks. Auf wiedersehn, G+J.

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