Red Herring Seeks Buyers

  • February 27, 2003
The red in Red Herring may be for red ink, as the title is apparently putting itself on the block for buyer. TheDeal.com says the high-tech title is being shopped for just $2 million, fraction of the $200 million offer it once refused from Time Inc. Investment banker DeSilva & Phillips has been retained by parent RHC Media to find a buyer. Ad pages for the bi-monthly fell 66% in 2002, following a 64% decrease in 2001, according to Publishers Information Bureau. Red Herring reorganized last fall, winning new capital to keep the magazine afloat.
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