Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: Source Interlink, parent co. of <i>Motor Trend, Automobile, Hot Rod,</i> files for Chapter 11]]>http://www.autoblog.com/2009/04/28/source-interlink-parent-co-of-i-motor-trend-automobile-hot/http://www.autoblog.com/2009/04/28/source-interlink-parent-co-of-i-motor-trend-automobile-hot/http://www.autoblog.com/2009/04/28/source-interlink-parent-co-of-i-motor-trend-automobile-hot/#commentsFiled under: , ,

Source Interlink, the mega-publishing firm that owns Automobile, Motor Trend, Hot Rod and dozens of other enthusiast print and web titles, filed for Chapter 11 bankruptcy protection in a Wilmington, Delaware court yesterday. According to the filing, Source Interlink has a listed debt of $1.9 billion and assets amounting to $2.4 billion, and in a statement from Greg Mays, Source's CEO said "This restructuring will materially reduce our interest expense and debt levels."

The filing comes at a time when first quarter advertising revenue in magazines has plummeted by 20% compared to last year, and the pinch began to be felt by enthusiasts late in 2008 when Source Interlink killed off Sport Compact Car and Turbo and High Tech Performance, two of the company's most respected - although recently unprofitable - titles. It's unclear how the restructuring will affect the 75 publications, 90 websites and other media outlets under the Source Interlink banner, but it's safe to assume that more titles will likely be dropped, consolidated, or otherwise restructured in the future as the company attempts to right a ship that's been sinking for the last few years.


[Source: Bloomberg]

REPORT: Source Interlink, parent co. of Motor Trend, Automobile, Hot Rod, files for Chapter 11 originally appeared on Autoblog on Tue, 28 Apr 2009 14:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcyprimediasource interlinksource interlink bankruptcySourceInterlinkSourceInterlinkBankruptcyTue, 28 Apr 2009 14:00:00 EST<![CDATA[Rumormill: Turbo & High-Tech Performance Magazine gets the axe]]>http://www.autoblog.com/2008/10/31/rumormill-turbo-and-high-tech-performance-magazine-gets-the-axe/http://www.autoblog.com/2008/10/31/rumormill-turbo-and-high-tech-performance-magazine-gets-the-axe/http://www.autoblog.com/2008/10/31/rumormill-turbo-and-high-tech-performance-magazine-gets-the-axe/#commentsFiled under: , , ,



The first issue hit newsstands in June 1985, and after 23 years in the game, Turbo & High-Tech Performance Magazine is rumored to be at the end of its rope. In its late 90's heyday, Turbo Magazine boasted over 150 content-filled pages in each issue during the the import drag racing boom. And the small displacement engines of Japanese sports and compact cars provided the perfect platform to show off turbocharging technology. The complexities of a turbocharged vehicle used to intimidate many consumers and engine builders, but the vision of Turbo Magazine founder Kipp Kington brought the technology within reach of the average enthusiast.

But in recent years, the pages of the magazine have dwindled significantly. Even with an increased demand for smaller displacement, forced induction engines, Turbo has been left behind for shark bait. Its widespread distribution has been reduced to a trickle and finding an issue of Turbo on the rack became as rare as spotting Sasquatch. If the rumor holds true, we will be sorry to see it go, but its place in automotive history will not be forgotten.

Rumormill: Turbo & High-Tech Performance Magazine gets the axe originally appeared on Autoblog on Fri, 31 Oct 2008 07:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Source InterlinkSourceInterlinkTurbo High-Tech Performance MagazineTurbo MagazineTurboHigh-techPerformanceMagazineTurboMagazineFri, 31 Oct 2008 07:58:00 EST<![CDATA[Motor Trend, Automobile sold to Source Interlink]]>http://www.autoblog.com/2007/05/14/motor-trend-automobile-sold-to-source-interlink/http://www.autoblog.com/2007/05/14/motor-trend-automobile-sold-to-source-interlink/http://www.autoblog.com/2007/05/14/motor-trend-automobile-sold-to-source-interlink/#commentsFiled under:



It appears that today is the day for shedding divisions, as in addition to news that Daimler has sold a majority stake in Chrysler to the Cerberus Group, we've also learned that Primedia has finally unloaded its Enthusiast Media division to Source Interlink. The Enthusiast Media division of Primedia includes 70 magazines titles and 90 websites, including Motor Trend and Automobile Magazine, among others.

Source Interlink appears to work in the field of distribution, which should fit well with the Enthusiast Media division that produces dozens of magazine titles each month needing to find their way onto newsstands across the world. It appears that the purchase will make Source Interlink a vertically integrated producer and distributor of content from this point on. Though a copy of Motor Trend goes for about $4 on the newsstand, Source Interlink paid $1.2 billion for it and its siblings thanks to financing support from Citigroup Global Markets, Inc.

Like the sale of Chrysler to Cerberus, only time will tell if these sell offs benefit the seller, the sold and the buyer. You can read the full press release from Source Interlink detailing the sale after the jump.

[Source: Source Link via Winding Road]

Continue reading Motor Trend, Automobile sold to Source Interlink

Motor Trend, Automobile sold to Source Interlink originally appeared on Autoblog on Mon, 14 May 2007 15:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>automobileEnthusiast Media divisionEnthusiastMediaDivisionmotor trendMotorTrendPrimediaSource InterlinkSourceInterlinkMon, 14 May 2007 15:32:00 EST