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Nov 30, 2006 19:36:09 GMT
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Wonder why Retro Cars magazine went the way of the Dodo? www.gamasutra.com/php-bin/news_index.php?story=11889The article has a video games leaning because it is from a video games development website,.. but the headline figures : "Officials from UK based magazine publisher Future Publishing have announced the company’s preliminary results for the financial year ended September 30th, in which the company reported pre-tax losses of £49.0 million ($95.6m)." "Future CEO Stevie Spring commented, “It is clear with hindsight that during the past two years, Future over-invested in acquisitions and under-invested in organic development. The consequences of this strategy are clearly evident in today’s disappointing results.”" Maybe spunking a load of money into A&S publishing then canning half the titles they just bought was possibly a rather short sighted business move. |
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Nov 30, 2006 20:17:53 GMT
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Interesting.
I had no idea that the profit (and more importantly losses) could be so huge.
You would have thought that selling off the less profitable aquisitions as 'going concerns' to other publishers would have made sense? Even if they were losing money, the mastheads must have been worth a few quid to someone.
Still topical and relevant as my OH spend several hours trying to get me an RC subscription as a christmas gift only to find (eventually) that it had gone under.
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Nov 30, 2006 20:43:06 GMT
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Whats 'A+S publishing'?
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1972 Fiat 130 1985 Talbot Alpine 1974 Lancia Beta Saloon 1975 + 1986 Mazda 929 Koop + Wagon 1982 Fiat Argenta 2.0 iniezione elettronica 1977 Toyota Carina TA14 BEST CAR EVER!!!!!!!! 1979 Datsun B310 Sunny 4-dr 1984 Audi 200 Quattro Turbo 1983 Honda Accord 1.6 DX GONE1989 Alfa 75 2.0 TS Mr T says: TREAT YO MOTHER RIGHT! |
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Nov 30, 2006 21:05:08 GMT
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Certainly relative isnt it, so in the recent months it was only the poor writers who were really trying, while everyone else knew it was gonna sink!  Overpayed fat cats still get paid while curse word hits the fan. madness!!! Imagine making a loss like that!  I couldnt feel good ever after that! |
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 it doesn't matter if it's a Morris Marina or a Toyota Celica - it's what you do with it that counts  |
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Anglia68
Posted a lot
Powered By Boredom.
Posts: 2,050
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Nov 30, 2006 21:31:23 GMT
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Future CEO Stevie Spring commented, “It is clear with hindsight that during the past two years, Future over-invested in acquisitions and under-invested in organic development. The consequences of this strategy are clearly evident in today’s disappointing results.” Does anybody have this guy's personnel e-mail so I can tell him he's a tw*t. |
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Nov 30, 2006 22:58:36 GMT
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A+S were the people behind Retro Cars when it launched....also responsible for Classic Ford, Mini Magazine, Trucking International and a host of others. Future Publishing bought the magazine rights off A+S and also the rights to Classics magazine off SPL in Orpington. Future Publishing are also a bunch of w*nkers.  Brian |
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Nov 30, 2006 23:42:26 GMT
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maybe now Future has shafted and closed so many old car mags, theres an opportunity for one new 'good' magazine to appeal to those readers. I think there is anyway.
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1972 Fiat 130 1985 Talbot Alpine 1974 Lancia Beta Saloon 1975 + 1986 Mazda 929 Koop + Wagon 1982 Fiat Argenta 2.0 iniezione elettronica 1977 Toyota Carina TA14 BEST CAR EVER!!!!!!!! 1979 Datsun B310 Sunny 4-dr 1984 Audi 200 Quattro Turbo 1983 Honda Accord 1.6 DX GONE1989 Alfa 75 2.0 TS Mr T says: TREAT YO MOTHER RIGHT! |
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bryn
Posted a lot
Posts: 3,913
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Nov 30, 2006 23:47:24 GMT
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Money can't buy you love.
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Volvo, Buggy, Discovery and an old tractor.
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slammed 66
Posted a lot
www.gtturbo.org
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Nov 30, 2006 23:57:47 GMT
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Money can't buy you love. But it can buy copius amounts of cheap whores ;D |
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86 Renault 5 GT Turbo 89 Renault extra 91 Skyline GTR 98 Mini 1275 mpi 99 Autech Rider www.gtturbo.org |
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bryn
Posted a lot
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Which would have been far more enjoyable than what they did with it... ;D
It's just another nail in the coffin of my faith in large companies. I've only encountered it within the publishing world, but it seems the people at the top somehow pass through a machine that removes any sort of editorial awareness when they get their own office. There are some good people at Future, it just seems as though they didn't make the decisions this time.
Purely from a business point of view their intentions and actions didn't tally up from the start when they set about the period of acquisition three years ago, we all had hope but little faith in them. Unfortunately this has now been justified... Damn shame, an abject lesson in how to yog millions.
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Volvo, Buggy, Discovery and an old tractor.
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Surprised they was loosing so much money considering how much they charge for advertising. lol
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I'd have thought that maybe Future would have amalgamated Retro with Classics magazine....indeed those with longish memories may well remember that when it was launched back in the late 1990's, Classics actually WAS called Retro Classics, and was a good degree closer in editorial content to Retro than you'd think. My only hope is that Classic Ford, Mini Mag et al don't end up suffering the same ignominious fate...and that the spirit of what was Retro carries on with a smaller, more specialised publisher (anyone listening in Kelsey Publishing?? They took on Custom Car when Link House didn't want it any more, and next March good ol' CC celebrates it's 37th birthday. Food for thought perhaps!) Brian |
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Last Edit: Dec 1, 2006 1:05:35 GMT by briandamaged
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i have been assured that Classics Monthly and classic ford are staying for the fore seeable future. But they may have told me that just to get money out of me  |
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Expansion by acquisition usually ends in a financial problem.
Seen that with a number of companies. Including a coupe I worked for...
I am also quite amazed that nobody took Retro on. maybe they are like eMap and don't like to pass on or licence their titles "just in case".
I got the last issue of Retro and its actually rather good. What a shame.
Priblem is, I duno what its like anywhere else, but in Nottingham the magazine shelves are just full of Hello and OK and TV Soap Weakly and the like. Its actually getting hard to find Practical Classics in newsagents now... Motoring section in Smiths has shrunk massively as well - and its almost all the stuff aimed at the middle class middle age market - Caravan, Formula 1, Diesel car, Autocar, Mercedes World, BMW Driver, etc. They have the "big three" boy racer mags and the obvious classic mags thats about it. No classic car mart, no classic cars for sale, no American Car World, no PPC, no Track Day Cars or whatever it was called, no Retro, no Custom Car. No kidding theres about half the mags there were a year ago.
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1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1994 Ford Fiesta
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Seth
South East
MorrisOxford TriumphMirald HillmanMinx BorgwardIsabellaCombi
Posts: 15,538
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Sorry , this is drifting off the point a little but I seem to remember Smiths made the concious decision a little while ago to reduce the number of specialist titles held by most of their stores and turn some others (usually big city centre/shopping mall branches) into ones that do cater for us specialists. Hence the local high street branch to me has little but if I go to Brent Cross it's got everything (like Classic Van and Pick up for example).
As far as Future goes, yep its people at the top of a big organisation playing financial games while seeing companies as "businesses" rather than peoples livleyhoods. Been there, experienced that.
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Follow your dreams or you might as well be a vegetable. |
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Shortcut
Posted a lot
I won't be there when you cross the road, so always use the Green Cross Code.
Posts: 3,037
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A friend of mine works on Good Woodworking (or similar) at Future. He was planning to but the title off them but they strung him along for ages, cost him a fortune in planning and gatting ready (as they said the deal was a done one!) then pulled it out from under him at the last moment to give to another mag publisher. Despite him working like a dog for them for years to keep the title going!
Big business eh!
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This space available to rent. Reach literally dozens of people. Cheap rates!
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DutyFreeSaviour
Europe
Back For More heartbreak and disappointment.....
Posts: 2,944
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OT - sorry -You got problems with the local Smiths!I'm screwed on subscriptions - the only way to get anything decent here ( weeks later of course ) - so now itching for a replacement to come out. - still - gives me more time to tinker instead of sitting on my lardy reading! ;D
How are the plans for a magazine from the posters here coming along? Planned date?
Definitely a goer?
Inquiring minds n all that.......... I'll subscribe - where do I sign!
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Back from the dead..... kind of
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The way I see it, Future basically buy titles to close them down. The only revenue they got was from the ads.
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impmann
Posted a lot
Overcoming stupidity is the greatest challenge left to mankind
Posts: 1,089
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A+S did a pretty good job at turning out niche-market mags that whilst didn't make masses of money, made enough to keep them alive. SPL did a similar thing down in Orpington before the morons from Highbury House bought their way in - I know, I was there. Tw*ts. Then the big boys come a long and think - "hey, there's a small company making a small profit. Lets swallow them up, "re-launch" their mags targetted at a more general audience and make loads of money." Sadly that doesn't work - the reason why small mags work well within their niches is they perfectly reflect their readership. Generalise the mag and the niche readers think "not specific enough, they've lost the plot" and the floating reader thinks "mmm, not this month". I've seen it time and time again (CCC, anyone?). Highbury House went belly up. Future bought too much (for too much) and are now in trouble. But they are stupid in that they won't sell off the rights to any of the now defunct titles.... Publishing upper management are about the dumbest, most counter-creative, generalising, short-sighted, backwards thinking, kretins I have ever had to deal with in my life. Hence why I left CLASSICS (that and a empire-building little-hitler publisher) - I miss the job, but not the politics of dealing with such retards. Perhaps now would be a good time to get some backing to start a medium-sized publishing house, publishing magazines that actually refect the market they are trying to sell to. But it'll still get complaints of too many MGs!!  Rant over. |
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1964 Hillman Imp
1976 Hillman Imp
1967 Hillman Imp
(And a few projects dotted around the country)
Just cos something is good for you doesn't mean its good for everyone - for example Marmite does not make good Dog Food.
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This unfortunately is the way of the world...my local village newsagents were great for car magazines, last year they were bought out by Tesco Express...result; What Car, Autocar, M*x Power.... and Auto Express.
That's all these huge conglomerates are any good for....buying what we already have, dumbing it down to the lowest common denominator, jacking the price up, and selling it back to us.
Will the last person left please turn out the lights.
Vive le revolution. Or something.
Brian
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Overpayed fat cats still get paid while curse word hits the fan. madness!!! 
I couldnt feel good ever after that! 
