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News
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1. Mediaweek
Five Bidders Offering $40-$50 Million for Fast Co. and Inc.
By Lisa Granatstein
6/9/05
http://www.mediaweek.com/mw/news/recent_display.jsp?vnu_content_id=1000954266

Among the five prospective buyers offering between $40 million to $50 million for G+J USA Publishing's Fast Company and Inc. is a G+J management group comprised of CEO Russell Denson, Inc. vp, publisher Lee Jones and editor John Koten, as well as Ed Sussman, managing director of the two titles' Web sites. The group is being represented by Abry Partners, a Boston-based media-focused private equity firm, according to sources familiar with the situation.

"In the due diligence process, all bidders may request access to management," noted Denson in an e-mail sent to Mediaweek.

Denson continued: "I have been available to all bidders at their request and in fact visited with The Economist this morning, but only Abry Partners has specifically asked to speak with me. Abry has also indicated an interest in my ongoing involvement in the event that Abry is the successful bidder. And I presume that all of the bidders have an interest in working with the current management of the magazines. But neither I, nor any other employee to my knowledge, have any current agreement with any bidder."

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The weather is bordering on biblical this week. So it's hardly surprising that there was a party Tuesday night called ???Sin,??? thrown by Topic magazine, which has dedicated its latest issue to the 7 deadlies. To celebrate their reservation in Eternal Damnation, the staff toasted themselves and had this month's celebrity contributor, model/author Sophie Dahl, read aloud from her piece on gluttony. Gawker hack-and-a-half Noelle Hancock captured it all with the shuttering eye of Nikola Tamindzic. Roald Dahl's granddaughter, offensive cookies, and heroin after the jump??¦

Now for those naughty boys and girls who weren't paying attention, Topic is a new quarterly publication. In each issue, the magazine takes on one topic, recruits contributors to write first-person essays about it, and beats that subject senseless (bitch had it coming). Perhaps the magazine is commenting on the media's tendency to obsessively fixate on a topic, and is mimicking that parochialism for the sake of irony, or perhaps I'm just talking out of my ass.

The party was held in the library of the Accompanied Library, which is trying to keep culture alive, but kill us all through lack of air-conditioning. It's hot as balls and everyone fans themselves with their hands like we've just been crowned the new Miss America. A waify Sophie talks about her weight fluctuations in Oprah-like fashion, and I instinctively check under my chair for a free car. There are many mentions of her bf-4-ever, Danny Baker, son of celebrity plastic surgeon, Dan Baker, Sr. (girlfriend knows how to plan ahead). Once she's finished reading her story, Sophie flounces out to catch a plane and the rest of us are left behind like Jews after the Rapture.

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