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December 2, 2019 5:21 pm  #1


NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

It's 38 years old and the increasingly in debt Toronto freebie was badly in need of cash. 

Money-losing Now Magazine sold for up to $2 million, new owner plans to keep print edition 

 

December 2, 2019 5:49 pm  #2


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

That's great news for the staff.

 

December 2, 2019 7:51 pm  #3


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Great news for the looney left.

 

December 2, 2019 9:27 pm  #4


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

TheConsultant wrote:

Great news for the looney left.

Given their burn rate there might not be a loonie left soon.

 

December 3, 2019 1:06 pm  #5


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

This time next year, there won't be anything recognizable left of them.

The writing has been on the wall for some time.  Over the last few years, the staff numbers have decreased about 60%.  (They're at about 40 now)  It's been a dirty little secret (no pun intended) but the sex ads literally carried the paper for a long time.  When they disappeared, so did a good chunk of revenue.

As pointed out, the value in the company is its readership base.  Everything else can go out the window.  The problem with their readership is, they can be fickle and will jump once _their_ paper gone.

Stick a fork in them.  They're done.
 

 

December 3, 2019 3:42 pm  #6


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Peter the K wrote:

As pointed out, the value in the company is its readership base.  Everything else can go out the window.  The problem with their readership is, they can be fickle and will jump once _their_ paper gone.

I remember when they sold their domain, now.com, for a cool $US half million many years ago. I guess there is not much left of that tidy little chunk.
 

 

December 3, 2019 4:04 pm  #7


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Many years ago, the joke was that Later is the one that comes out later on.
Here we are, years later and it's still coming out later on... (great joke! https://cdn.boardhost.com/emoticons3/laughing.png
 )

 

December 4, 2019 2:47 am  #8


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Mathew Ingram, a digital media writer for the Columbia Journalism Review, commented on Twitter "This sounds great, except that NOW magazine's new owner - a penny-stock holding company - has no experience in media whatsoever apart from running a website devoted to cannabis lifestyle news, which it bought in May."

his use of the word "except"😏

 

December 4, 2019 5:38 am  #9


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

NOW has devoted considerable space and effort the last few years to reporting on and very decidedly championing MJ legalization and its local / decentralized / micro-level distribution and sale. This may fit very well in this regard. There may be considerable cross-branding, advertising and other marketing opportunities. Also appears Alice Klein is staying on board to at least assist in the transition. That's vital given the new owner is a market newbie. Certainly the mag has been struggling financially for a lot of reasons - an end to the adult ads, the usual 'online-digital versus print' challenges among them. Curious what the operating costs are and how they break down (staff, printing, circulation, online, etc).

 

December 4, 2019 9:47 am  #10


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Peter the K wrote:

It's been a dirty little secret (no pun intended) but the sex ads literally carried the paper for a long time.  When they disappeared, so did a good chunk of revenue.
Stick a fork in them.  They're done.
 

I highly doubt they're done IF ads for cannabus stores can make up for any difference. 
(now that it's legal to advertise...)

 

December 4, 2019 2:04 pm  #11


Re: NOW Magazine Sold For Millions, Will Keep Staff & Print Edition

Radiowiz wrote:

Peter the K wrote:

It's been a dirty little secret (no pun intended) but the sex ads literally carried the paper for a long time.  When they disappeared, so did a good chunk of revenue.
Stick a fork in them.  They're done.
 

I highly doubt they're done IF ads for cannabus stores can make up for any difference. 
(now that it's legal to advertise...)

Cannabus ...  Like The Who's Magic Bus