Inside.com attracts potential buyer
Publisher Steven Brill of Brill Media Holdings may buy Inside.com publisher Powerful Media as early as Monday, although the deal could still fall through.
The Industry Standard, whose parent company prints the offline version of Inside, is reporting that Brill Media Holdings could unveil details to acquire Powerful Media, publisher of Inside.com, as early as Monday. However, the deal still could fall through, the magazine said.
Brill owns Brill's Content, a media watchdog magazine that follows the feats and follies of print, Web, television and radio outlets. Inside.com, launched last year, is quickly becoming a popular media trade magazine, taking a more irreverent and aggressive approach to topics ranging from the Oscars to Napster. The publications already have at least one close tie. One of Powerful Media's founders was Deanna Brown, a former president of Brill's Content.
Rumors that Powerful Media is shopping itself around have been circulating for some time. As previously reported, Primedia, a major Brill shareholder, confirmed that Inside's owner had approached it for a possible buyout two weeks ago.
Some are turning to subscription models or trying out larger ads. Others are looking to consolidate and cut staff and costs.
Inside.com would not comment, and Brill Media executives did not immediately return phone calls seeking confirmation of the acquisition plans.