Meredith’s statement on decision to sell Fortune, Money
Here is the statement that Meredith Corp. put out on Monday regarding its decision to sell Fortune and Money magazines, among other titles: “We have made significant progress executing on these initiatives since we closed on the acquisition just six weeks ago,” said Meredith President and CEO Tom Harty. “For example, today we are announcing we have completed […]
Fortune draws interest from buyers, primarily wealthy individuals
Dan Primack of Axios has the following breakdown of Meredith Corp. CEO Tom Harty’s meeting with the staff of Fortune, where he used to work. Primack writes, “Notes from the 2:30pm meeting with Fortune staffers, which took place in New York City despite many being absent due to the snowstorm: There is a lot of inbound […]
Bloomberg may buy Fortune magazine
Bloomberg LP is among the potential acquirers who have examined buying Fortune magazine, reports Alexandra Steigrad of the New York Post. Steigard reports, “A Bloomberg spokesman declined to comment. Meredith said: ‘It is our policy not to comment on market rumors or speculation.’ “Despite the buzz about Bloomberg, insiders wondered how Fortune would fit into Bloomberg’s print portfolio, […]
Meredith hires advisers to explore Fortune, Money sale
U.S. media company Meredith Corp. has hired advisers to explore a sale of Fortune and Money magazines following its $1.84 billion acquisition of Time Inc. in January, reports Jessica Toonkel and Liana B. Baker of Reuters. Toonkel and Baker report, “It was not clear how much the magazines could be worth. Fortune and Money generated more than $20 million in […]
Ex-Time CEO mulls purchase of Fortune, Money
The former chief executive officer of Time Inc. is interested in purchasing Fortune and Money magazines, as well as the Fortune conference business, from new owner Meredith Corp., reports Keith Kelly of the New York Post. Kelly reports that Joe “Ripp was the CEO who steered Time Inc. through its spinoff from Time Warner in […]
CNNMoney: The best thing to come out of AOL/Time Warner
Howard Gold, writing in Columbia Journalism Review about the demise of Time Inc., writes about how CNNMoney.com was the best result of Time Warner’s acquisition by AOL. Gold writes, “Several people told CJR that AOL’s CEO at the time, Bob Pittman, was the driving force behind a forced marriage that remained unhappy until Money.com went […]
Fortune seeks associate editor for audience engagement
FORTUNE, which boasts massive franchises like the FORTUNE 500, Most Powerful Women and World’s Greatest Leaders, is seeking an Associate Audience Engagement Editor to help oversee its social media presence, SEO strategy, newsletter production and audience growth. The Editor will collaborate with writers and editors on everything from daily news to lists. Daily responsibilities will include packaging posts for social channels, using […]
Business journalism giant Loeb dies at 88
Marshall R. Loeb, a business journalist who turned a floundering Money magazine into one of the nation’s most successful publications in the 1980s and then led a similar revival at Fortune, died on Saturday in Manhattan. He was 88. Robert D. Hershey Jr. of The New York Times reports, “He joined Money in 1980 as managing […]
Examining the potential bidders for Fortune
Media industry analyst Ken Doctor examines the potential buyers for Fortune magazine, which is being acquired by Meredith but does not fit into its portfolio. Doctor writes, “It’s tough to see an easy fit. Bloomberg already bought and incorporated one of the top three legacy business magazines, Business Week. Nikkei and its Financial Times have […]
Fortune’s glory has faded
Former financial journalist Eric Starkman writes for O’Dwyer’s PR about the faded glory of Fortune magazine, which was sold this week to Meredith Corp. Starkman writes, “I couldn’t muster any reason to renew Fortune magazine for $60 when my subscription recently expired. The last Fortune article that wowed me was a two-part series on the Sony hack by Peter Elkind, published […]
