Chris Hunterman of the Frederick Gazette in Maryland reports that a local business magazine may not publish any more due to litigation between the two partners who founded it.
“Meanwhile, the defendant, co-founder Ridgerunner Publishing of Hagerstown, has countersued to block Tran from publishing a rival business magazine and seeking $500,000 in compensatory damages.
“Tran and Ridgerunner formed Smart Company Magazine as equal partners, just before the first issue was published in January 2007, with each contributing $15,000, according to Tran’s petition. Until July, Tran was co-publisher and primarily responsible for marketing and advertising sales in Frederick County.
“Ridgerunner — which also publishes Hagerstown Magazine: The Best of Life in Washington County & Beyond, HM Bride, HM Home and BRAVO! — acknowledges Tran’s $15,000 investment, but denies he was an equal owner who was to participate in management decisions as an equal partner.”
Read more here.
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