Cherry Lane Sells Guitar One; Shuts Down Other Titles
Cherry Lane
Posted 2003-11-05
Motivated in part by the company's desire focus on their music publishing activities, Cherry Lane is scaling down its magazine roster drastically. Cherry Lane's largest magazine, Guitar One, has been sold to the US-based division of Future Network (publishers of Future Music, Total Guitar, Guitarist, Guitar Techniques, among others) for an as of yet undisclosed amount. Future Network also acquired Guitar World magazine earlier this year for $16.25M in cash.
Two of Cherry Lane's other titles, Home Recording and Women Who Rock, are being suspended immediately and after the January/February issue respectively. The remaining magazine, Music Alive, will still continue being published by Cherry Lane for the foreseeable future.
More than a dozen positions in the magazine division of Cherry Lane are being cut.
For more information, visit their web site at www.cherrylane.com.
