Posted by Dan on December 13, 2009 at 07:29:05:
In Reply to: "Editor & Publisher" magazine & website shut down after 108 years posted by Annd Another Down, And Another One Down on December 13, 2009 at 07:28:20:
: Editor & Publisher closing after 108 years
Another example of out of control private equity groups overpaying for media companies a few years ago, thinking they could unload them for a profit in a couple years....then getting blindsided by the economy falling apart. They don't know how to run a media company, and since they can't sell it off in pieces they just shut down properties like "Editor & Publisher" because they need to answer to their investors and need to show operating profit. They have no respect for the media industry or the people who built and maintain it...it's all bottom line to them.
It makes me ill.