Athlon Media Group (AMG) is closing in on a deal to acquire several of Harris Publications’ shuttered magazines. According to The New York Post, something is expected to be worked out as early as tomorrow.
Because Harris folded rather suddenly, there are still a few financial obstacles for AMG to clear.
Printing company R.R. Donnelley said Harris still owes $3 million for past printing duties and $1 million for paper. The company also filed a $4 million breach of contract suit against Harris. Then there’s Curtis Circulation. It claims Harris owes it $250,000. Curtis has also filed a breach of contract claim for $7 million.
We’re not sure what AMG’s execs are thinking, but at some point, you have to wonder if a deal is more trouble than it’s worth.