Private Frazer’s Doomed Magazines

October 21, 2008

Bona fides

Filed under: Uncategorized — privatefraser @ 12:36 pm
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Sometimes, in those dark moments of personal doubt, Private Frazer thinks that perhaps the big nobs in publishing companies do know what they’re doing and widespread closures and redundancies in our industry will be avoided. Then he comes across examples of idiocy so perfect they become amost poetic. (more…)

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September 17, 2008

Down, down, down

Filed under: Uncategorized — privatefraser @ 9:08 am
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More on RBI, this from The Times

[The] sale of Reed … appears to be struggling, with no bids close to the mooted £1.25 billion price. One bidder to have made it through to the second round has indicated its bid was nowhere near £1 billion and there is talk the unit may be worth as little as £800 million.

If the process drags on much further my original bid of half a crown and a nuttals minto may be the most generous – and I’m starting to have second thoughts about the minto.

August 2, 2008

News from Auchtermuchty

Filed under: Uncategorized — privatefraser @ 5:44 pm

Apologies for the silence over the past few weeks. Private Frazer has been in the Kingdom of Fife tending to a dear old maiden aunt who had promised me a wee something in her will. She was in pretty ill health and despite my best attention she made a full recovery, so I’ve had to come back to work.

The corpses have been stacking up in the parlour and I’ll try to lay a few of them to rest next week.

And we’ve the unrestrained joy of the latest ABC figures in a few days. The more optimistic of the circulation managers of the Private’s acquaintance think they’ll be ‘grim’; the pessimistic ones are talking of a ‘bloodbath’. But one man’s tragedy is another man’s excuse to have a wee chuckle, so it’ll be smiles all the way here in Walmington.

June 3, 2008

Buddy can you spare £3/4 billion?

Filed under: B2B magazines,figures,Uncategorized — privatefraser @ 8:53 am
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The RBI sale is obviously going wonderfully well. According to a report in the Telegraph the company is trying to put together a £750m loan to anyone that will buy the company in one piece. Given that the asking price for the whole package is £1.25bn it means that if anyone does want to buy the group they will only have to find £500m of their own (or, more likely, further borrowed) cash.

Of course it’s one thing to insist on the sale taking place in one bundle, but I imagine it will be difficult to insist that every magazine and every division remains intact after the sale. The opportunity obviously exists for someone to borrow the money from Reed to buy RBI and then sell off parts of the business (this used to be called ‘asset stripping’) to pay off the money borrowed. (more…)

May 30, 2008

RIP EMP

Filed under: B2B magazines,closures,Uncategorized — privatefraser @ 3:44 pm

Electronics Manufacturing and Procurement (EM&P) has closed with immediate effect according to a letter on its homepage.  The publisher gives the reasons of ‘a massive drop in [advertisers’] promotional spend’ and says ‘page rates have reduced, but costs have increased’.

The title had an unaudited circulation of 12,000 and was (surprise, surprise) controlled free circulation.

There you have it in a nutshell – no circulation revenue, advertising rates being cut, advertisers falling away, costs going up. 

April 15, 2008

Last orders

Filed under: B2B magazines,closures,Uncategorized — privatefraser @ 12:46 pm

Crier Media Group’s The Drinks Network has officially ceased publication.

Come along now please ladies and gentlemen, haven’t you got homes to go to?

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