By Greg on February 17, 2006 1:25 PM
- Folio: breaks the news that the sale of Spin is done. The buyer, as reported originally by WWD is Hartle Media, the California-based publisher of 7×7 (a San Francisco city title) and California Home & Design. The price tag is the still-somewhat-shocking $5 million, which reportedly reflects an annual loss of about $3 million, and is one-twentieth the price that Quincy Jones was rumored to still be willing to pay parent Miller Publishing for both Vibe and Spin last fall. (As a founder of Vibe, Jones was obviously more interested in the former.) Still, it’s kind of sad that a magazine Bob Guccione Jr. (The Gooch!) once sold to Miller for $42 million is practically worth less than the physical assets used to create it.
- Help! Help! Jon Fine has been possessed by the malevolent spirit of Michael Wolff! Whew. You had us worried for a minute there.
- If it’s Friday, then it must be time to talk up iVillage. I know, I know. I’d forgotten they were still around, too. Did an article appear in the Journal or something?
- “So far, nobody’s come up with a business model to support such vibrant Web journalism.” And trust him, Salon would know.
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