Friday, May 18, 2007

Planet Out/Advocate/ Company Collapsing

Planet OutInc., the big gay company that owns,, The Advocate and Out magazines, as well as the RSVP all-gay cruise line, recently announced that if they don't get an infusion of cash by the end of the year, it will be shutting down. Over the past decade they bought out each gay magazine and website and in the process became the dominant media company (monopoly?) for the gay community. But they wound up overextending themselves, and now if things don't get better it looks like there won't be much of a nationwide gay print news media left. (And what would be left of it? Instinct? The Guide?) Remember the story about not putting all your eggs in one basket? Looks like that's happened with Planet Out Inc. and this country's gay news print media.



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