Over the weekend, rumors started swirling about the possible closure of Newsweek-owned Budget Travel. Thankfully, we learned yesterday that the magazine is safe. But we wondered, if the pub was not going out of business, what was the source of the nasty rumors?
Today, Advertising Age‘s Nat Ives reports that Newsweek “is seeking new equity investors for the title or even an outright sale”. Staffers on either side of the sale — within the magazine or Newsweek or at potential buyers — could have taken this to mean the pub is close to folding.
Could that be the source of the recent rumors? Know anything? Let us know.
Newsweek Seeks Investors for Arthur Frommer’s Budget Travel — Advertising Age
Earlier: Update:Budget Travel Not Closing