Parent Company of Stereophile & Home Theater Mag Files Chapter 11

By |


HomeTheaterMagazine_chapt11.gif

In a surprising move this morning, Source Interlink, a multi-billion dollar publishing company owned in part by Ron Burkle, filed for Chapter 11 bankruptcy. Source Interlink only a few years ago acquired the "enthusiast" group of magazines from PRIMEDIA which included AV books such as Stereophile, Home Theater, Shutterbug and many others. The deal was north of a billion dollars and came before the current economic woes that have seen all but online and TV ad revenues significantly contract.

Citibank, according the New York Post, will own upwards of 80 percent of the company's stock which is priced at about 15 cents per share on Tuesday morning.

The Source Interlink Chapter 11 comes at a tough time for co-competitor Sound & Vision magazine which is owned by French publisher Hachette Filipacchi. Sound & Vision is packaged for sale along with some popular photo books, but has yet to announce a buyer. One would assume many of the enthusiast titles at Source Interlink could also go on the market via a judge's gavel.

Stereophile is an institution with audiophiles, easily taking the crown for being the most historically significant magazine in the history of high end audio. Home Theater Magazine is also a powerful magazine with solid advertisers and top notch content in the printed world. Both publications have very strong, highly ranked websites to pair with the print magazines.

While its doubtful that Stereophile and Home Theater will just go away, some of the associated costs, additional web sites and many of the writers on staff could become victim of today's brutal economy.


  • Comment on this article

Post a Comment
comments powered by Disqus

Latest Industry Trade News

Jun 10
How A.I. Is Reshaping the Home Theater By now, you probably know that artificial intelligence (AI) is being employed to one degree or another in digital voice...
How A.I. Is Reshaping the Home Theater

Apr 22
Some Random Thoughts from AXPONA 2019 CES is officially dead for audiophiles, leaving AXPONA (Audio Expo North America), a regional audio show in Chicago, to pick...
Some Random Thoughts from AXPONA 2019

Apr 08
Thoughts on My First Commercial Movie Theater Experience in 15 Years When it comes to home theater, I guess I walk the walk and talk the talk, because it's been about...
Thoughts on My First Commercial Movie Theater Experience in 15 Years

Apr 01
MicroLED and Why Front Projection and OLED Should be Scared Once upon a time, I was a front projection enthusiast. Over the past 15 years, I've assembled more than a...
MicroLED and Why Front Projection and OLED Should be Scared

Mar 04
Would You Rather Have Big 4K or Smaller 8K? During my workday I talk with all sorts of people from every corner of the specialty audio/video industry. Public relations...
Would You Rather Have Big 4K or Smaller 8K?