Magazine had survived for a decade
NEW YORK — Red Herring has gone belly up.
The privately held tech mag that was a pivotal chronicler of the Internet era called it quits Friday after it couldn’t find a buyer.
San Francisco-based title had 31 staffers.
“It was tied to the ‘New Economy,’ and once a magazine loses the reason for its existence, the paper and ink don’t matter anymore,” said U. of Mississippi journo prof Samir Husni.
Decade-old mag was one of the last survivors of its era.
Business 2.0 scraped its way out of the post-boom period until it was bought out and relaunched by Time Inc. in 2001. The media company’s own title, ECompany Now, was folded. Upside was another casualty.
According to the Publisher’s Information Bureau, Red Herring sold $87 million worth of ads in 2000, only to see the number dwindle to almost $16 million two years later.
DeSilva & Phillips, which was retained by Red Herring’s holding company RHC Media, will sell its assets and subscriber list. Time Inc. is a rumored potential buyer of the latter.