Red Herring magazine closes
bayarea.com
SAN FRANCISCO (AP) - Red Herring magazine won't publish again, the publisher said Friday, making it the latest media casualty of the Silicon Valley's high-tech crash.
RHC Media Inc., formed last year after the venture capital firm Broadview Capital bought the magazine, reached the decision after unsuccessfully trying to sell Red Herring, said Chris Dobbrow, RHC Media's chief executive officer.
Red Herring's March issue, delivered to subscribers two weeks ago, turned out to be the magazine's final issue. It had a circulation of about 275,000.
``It had a good run,'' Dobbrow said Friday. ``It had and still has a terrific brand.''
RHC plans to liquidate its assets, including the Red Herring Web site, during the next few weeks, Dobbrow said.
The closure means Red Herring's remaining staff of 31 workers lost their jobs.
Founded in 1993, Red Herring focused on the venture capital community, an emphasis that helped it emerge as an influential magazine during the dot-com boom of the late 1990s.
Like several other magazines that rode the dot-com wave, Red Herring cashed in on the tech boom by selling huge blocks of advertising space to businesses eager to reach its upscale audience.
Most of that advertising evaporated in the technology meltdown of the past few years, forcing Red Herring to lay off most of its staff and scramble for survival. With its failure, Red Herring joins two other former rivals, Upside and the Industry Standard. |
