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F&W Media bankruptcy
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Message
Posted
I dont know how many of you subscribe to American online magazines such as Pastel Journal and Artist International, but I've been told today via Katherine Tyrell's Making a Mark blog that the main company F&W Media are filing for bankruptcy. F&W run the Artists Network website as well as a variety of art and crafting magazines. This is a shame, I've been a subscriber with them for some years and have always found the magazines to be of good quality (downloaded pdf files I tend to go for).
We have precious little in the way of good art magazines, whether in the UK or abroad, so this is quite a loss. Whether anyone else will pick up the reins I don't know, but we're talking about quite a large loss of books and instructional material, including videos. For me the loss of Pastel Journal is particularly galling since this was about the only one in the world dedicated to the medium, since Pastel International went belly-up some years back.
Posted
They haven't gone bust in the sense we understand it over here. What they've done is file for Chapter 11, which allows them protection whilst they try to restructure the viable bits into a going concern, so the magazines might not vanish entirely; however, with falling subscriber numbers and advertising revenue along with high levels of debt (and citing mis-management) it doesn't look good.