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This article comes from AsphaltandRubber.com
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Source Interlink, publisher of such motorcycle magazines as:*Motorcyclist,*Sport Rider,*Dirt Rider, has filed for Chapter 11 bankruptcy. The company, which is owned by*billionaire Ron Burkle’s Yucaipa Cos., is expected to privatize after the bankruptcy, with debtors losing nearly $1 billion in outstanding loans.*
It’s expected that heavy restructuring and cost cutting will now take place within the company’s publications, but it’s too early to determine which, if any, titles will be closed or sold.*
On the potential chopping block is the following motorcycle titles:*ATV Rider, Baggers,*Dirt Rider,*Hot Bike,*Motorcycle Cruiser,*Motorcyclist,*Sport Rider,*Street Chopper, &*Super Street Bike
With Cycleworld just recently up on the for sale block, its no big story that U.S. magazines are having a hard time of things. Advertising*revenue fell in the first quarter by 20% from last year, according to the Publisher’s Information Bureau, an industry group. Combine that with the fact that U.S. auto sales tumbled 37% in March, and you might not be as surprised to hear that Source Interlink hasn’t reported a profit since the second quarter of 2007.
Source:*Bloomberg*via*Hell for Leather
Visit Asphalt & Rubber for more articles like this one
*
*
This article comes from AsphaltandRubber.com
*
*
*
Source Interlink, publisher of such motorcycle magazines as:*Motorcyclist,*Sport Rider,*Dirt Rider, has filed for Chapter 11 bankruptcy. The company, which is owned by*billionaire Ron Burkle’s Yucaipa Cos., is expected to privatize after the bankruptcy, with debtors losing nearly $1 billion in outstanding loans.*
It’s expected that heavy restructuring and cost cutting will now take place within the company’s publications, but it’s too early to determine which, if any, titles will be closed or sold.*
On the potential chopping block is the following motorcycle titles:*ATV Rider, Baggers,*Dirt Rider,*Hot Bike,*Motorcycle Cruiser,*Motorcyclist,*Sport Rider,*Street Chopper, &*Super Street Bike
With Cycleworld just recently up on the for sale block, its no big story that U.S. magazines are having a hard time of things. Advertising*revenue fell in the first quarter by 20% from last year, according to the Publisher’s Information Bureau, an industry group. Combine that with the fact that U.S. auto sales tumbled 37% in March, and you might not be as surprised to hear that Source Interlink hasn’t reported a profit since the second quarter of 2007.
Source:*Bloomberg*via*Hell for Leather
Visit Asphalt & Rubber for more articles like this one
