Early today The New York Post ran with a rumor about Prometheus Global Media – the company that publishes Brandweek, Mediaweek, Adweek, The Hollywood Reporter and others – being sold.
The report stated that the investors behind Prometheus were looking for a 50 percent premium on the initial price paid for the company. As with any rumor, there were conflicting views, as a spokesperson for the investing company told the Post that the company is not being sold.
Now, Richard Beckman, CEO of Prometheus, has spoken up on the issue via a company-wide memo, which was obtained by The Cutline. Not only does Beckman deny the sale, he states that it is looking to expand.