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Now magazine is down to a handful of staff and its owners have gone bankrupt. Is this the end of the alt-weekly?
The COVID-19 pandemic exacerbated an already tough financial position, because of declines in classified and retail ad sales. Media Central Corp., which owns Now, filed for bankruptcy in March, and its debt holders are trying to sell the magazine. More people read news online, where ad sales pale in comparison to the prices once commanded by print. Described on its website as media for the “free generation,” Media Central positioned itself as an innovative disrupter. When Media Central bought Now, then CEO Brian Kalish announced plans to buy hundreds more alternative weeklies that would be united under the Media Central brand.
Source: CBC News June 15, 2022 10:04 UTC
