SURFACE magazine has been purchased by a company that almost immediately shut down the mag’s San Francisco office and made “a couple of layoffs,” reports FOLIO.
The magazine, a bimonthly fashion and interior design title, joins holding company Quadra Media’s other properties: Nylon, Inked, Tokion and more.
Quadra buys small “underinvested” media companies for cheap in the hopes of turning them around.
The remaining SURFACE employees might want to polish their resumes, just in case: Quadra wants to see a turnaround within 90 days. “We want to see strong impact in the first 90 days,” president Chris Shannon told Folio in a January interview. “We’re in this to make money. We’ve looked at a lot of things where if you can’t get it corrected in 90 days and start making money in six months to a year, it’s better to let it die.”