Meredith Corporation announced it has entered into a definitive agreement to sell the TIME media brand to Marc and Lynne Benioff for $190 million in cash. The transaction is subject to customary closing conditions and regulatory approval and is expected to close within 30 days. The Benioffs are purchasing TIME personally and the transaction is unrelated to Salesforce.com, where Mr. Benioff is Chairman, co-CEO and founder. Mr. and Mrs. Benioff will not be involved in the day-to-day operations or journalistic decisions, which will continue to be led by TIME's current executive leadership team. Click Read More below for additional information.
The modern media landscape has not been kind to many industry magazines, and many are no longer around at least in print form including Surfer, Surfing, Transworld Skateboarding, Transworld Surf, and Powder.
But the Surfer’s Journal has defied all those negative trends and currently has the most subscribers it has ever had.
The business model started by owners Debbee and Steve Pezman 30-years ago has proven to be ahead of its time.
An emphasis on editorial quality allows it to charge more for subscriptions and rely more on its readers for revenue while working with a small number of high quality sponsors that sign on for a long-term commitment.
much more at source: https://shop-eat-surf.com/2021/03/the-surfers-journal-media-model-stands-the-test-of-time/