Red Herring Sold To Itself; Upside Shuts Down
from the follow-the-money-trail dept
It’s not surprising to hear that Red Herring has been sold. All of the “new economy” magazines have been struggling, and quite a few have already gone out of business. Red Herring has had a few well publicized layoffs already. Now, however, comes news that they’ve been sold… to themselves. Their majority investor formed a new company which bought Red Herring from itself. This arrangement apparently lets them get out of the crazy real estate leases they had signed a few years back and move into more modest cubicles. Update: In somewhat related news, it turns out that Upside Magazine is shutting down. Interesting timing. I remember in 1996 or 1997 being told by a tech exec that those were the only two magazines to read if you were in the technology business (though, some would add Wired to that list).
