Doubledown Media Goes Under
Doubledown Media built a stable of magazines on the rise of Wall Street and financial excess. And as the economy collapsed, Doubledown’s model proved unsustainable.
Capping months of mounting financial troubles, CEO Randall Lane told employees in a memo that the company, publisher of Trader Monthly, Dealmaker, Corporate Leader and Private Air, would cease operations immediately after its bank stopped providing working capital.
Lane wrote that advertisers and other business partners owed the company a “substantial seven-figure sum,” but that a slowing of payments prevented Doubledown from paying its bills.
“These are unprecedented times: the combination of the media depression, the Wall Street implosion and the credit slowdown were collectively too much for our company—probably any company in our shoes—to overcome,” Lane wrote.
Doubledown
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