I'm not sure there were any sure bets. They could have kept going under the old model, but it wasn't enough to keep it going as its own entity. Not sure that's the route I would have chosen (they own the company that prints newspapers, but they weren't able to do magazines without a major investment), but it was Stephen's call.

I heard they were losing about a million a year, so, unless he wanted to pull from other wallets, it was time to think about winding it down. Guess there was no interest in selling (though I'll bet he sells off the archives).


* Disclosure: I worked for PMCG from 2004 to 2007.