What Happens To A Would-Be Mogul’s Dream Deferred?

Keith Kelly answers a question that’s been nagging us ever since Grey Goose vodka mogul Sidney Frank died a month ago: What was going to happen to his magazines, Travel Savvy and Business Traveler? Frank’s death led to a one of the stranger situations in the media world — an empire poised to fall apart before it had ever really been put together. (According to the New York Post’s report, the master salesman once claimed he would build the “biggest publishing company in the world.”)

Now we know: the charitable trust set up by Frank has demanded both magazines be shut down, according to Kelly. Estate laws apparently frown upon vanity publications. Despite the fact that Frank’s daughter and grand-daughter were working for the magazines, 25 staffers have been let go, and both were shuttered. It was certainly a shock to the staff; as of a week ago, their publicists were still pitching Fishbowl a story on just how great Travel Savvy was doing. Um-hmm.