Time Up for Time Out?
Local mag likely to get new owner
By STEVE RHODES
Updated 1:57 PM CST, Wed, Dec 3, 2008
Time Out New York is up for sale - and so is that magazine's share of Time Out Chicago.
Three New York shareholders own half of Time Out Chicago; Joe Mansueto, the founder of Morningstar once dubbed "The Quiet Billionaire," owns the other half.
Might Mansueto be interested in going all in?
It might not seem like a good time to get into the magazine business, but upon buying Inc. and Fast Company in 2005, Mansueto told USA Today that "The time to buy is when things are out of favor."
And in 2002, Mansueto tried to buy Chicago magazine from Primedia, only to lose out to the Tribune Company (which you'd think might be interested in selling as long as it's dumping assets.)
On the other hand, Mansueto might find this a good time to get out, too. The magazine, like many other publications, has had a tumultuous year including the laying off of six staffers in January.
Still, with the way things are going for Donald Trump, maybe it's better for the magazine that this was just a prank.
Copyright NBC Local Media
First Published: Dec 3, 2008 1:43 PM CST
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