The chief at Condé Nast, which only occasionally discusses its financial results, said ad revenue grew year over year, while subscriptions and e-commerce fell short of goals.
The newspaper, which started in 1966 with a focus on R&B, funk and disco, shut down in 1982. But one of its founders’ grandsons is devoted to finding it a new online audience.
The deal is the latest in a series of acquisitions and investments made by Penske Media, the owner of a swath of entertainment and trade publications including Rolling Stone and Variety.
The deal is the latest in a series of acquisitions and investments made by Penske Media, the owner of a swath of entertainment and trade publications including Rolling Stone and Variety.