There is one fewer lawyer in the world (the magazine publishing world that is) as The European Lawyer has ‘joined forces’ with The Global Legal Post.
Before: two magazines; after: one; so I would, suggest, your honour, that that’s ‘joined forces’ in the sense of ‘closed’.
It probably comes as no surprise to anyone to hear that Vitality Publishing called in the administrators on Friday.
As soon as Private Frazer heard that Attitude had been spun off to form a separate company, leaving Vitality with Loaded and Superbike, it was pretty obvious that something was up. The (ex) directors of Vitality have a certain amount of form in this regard.
And so it proves. The questions asked over the fitness of the company that IPC were in such a hurry to sell to remain unanswered. As does the fate of the magazines and of the employees.
For some reason the word ‘bastards’ springs to mind.
Like the very best baci di dama, Anthem Publishing’s Taste Italia magazine has delighted us momentarily, but leaves not a trace behind as it has now ‘merged’ with Italia magazine.
Ciao? Arrivederci? No, goodbye.
What are we to make of the news that Vitality Publishing has sold Attitude to a spin-off company to leave itself with just Loaded and Superbike magazine.
In 2010 Vitality bought four titles from the IPC bargain rail, Loaded, Superbike, Prediction and Hair. At the time, some eyebrows were raised at the opaque ownership structure of Vitality. Prediction seems to have been immediately floated off as some form of MBO, Hair was part of the portfolio of titles sold to Haversham in July 2011. With Attitude gone, Vitality is left with two magazines both of which suffered ABC falls of more than 25% in the last returns. Further to this, back in January Vitality itself became the subject of a management buyout. (more…)