Private Frazer’s Doomed Magazines

October 26, 2012

Done down, Down Under

Filed under: closures,consumer magazines — privatefraser @ 8:25 am
Tags: , ,

The Week Australia’s ‘period of consultation‘ was not as long as it could (or should) have been as the company went into voluntary liquidation on 17 October.

The title has simply stopped publishing.

There is no news as to whether staff will get proper redundancy or a statutory minimum, whether customers will get any refunds on what remains of their subscriptions or what creditors will receive. The cynical might think that this was a shoddy move to reduce the amount that the company needs to pay out to wind up its failed Australian business.

At the beginning of the month Dennis Publishing announced that its profits had risen 14% to £4.1m

Felix Dennis’s personal wealth is estimated at £500m

Shameful.

1 Comment »

  1. [...] weekly tablet launches come as Dennis Publishing’s Australian edition of The Week collapses and Newsweek exits [...]

    Pingback by The Future’s weekly and service-based for iPad mag publisher — paidContent — October 26, 2012 @ 9:14 am | Reply


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