Flipping; not Houses but Magazines
By jason - up to 2007 (archived) • Feb 12th, 2007 • Category: News for Creatives (archives)Talk about a quick flip-job:
“On the heels of announcing two acquisitions, Primedia said today it is exploring the sale of its largest division, the Enthusiast Media segment – home to 70 magazines (including three it purchased Thursday)…Phillips said the company is focused on selling off the company piecemeal so that KKR, Primedia’s largest shareholder and essential owner, can recoup its investment.”
“Recoup investment” isn’t the nearly the same as “turn a profit”. Buyer beware…
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