New York Magazine For Sale?
For a magazine that is not actually for sale, the title has swarms of buyers interested in it. Everyone from Jan Wenner to David Pecker to Mort Zuckerman. And why? Who would want it with, according to the New York Times, it's measly $1-2 million profits or it's circulation of "only" 433,000 or the fact that it has almost no recognition outside of Manhattan?
Even potential buyers admit it's not so hot. "I have not seen the books, but it looks like it is running out of steam," said Jan Wenner, the chairman of Wenner Media. "But I would have to think about it if it were available because it occupies a very important position in a very important place. It is a magazine about ideas."
We base aquisition decisions on important stuff like that in the advertising business.