Red Herring, once-upon-a-time red-hot technology magazine, has decided to suspend publication with immediate effect.
Tony Perkins, one of the founders and ex-editor-in-chief of the magazine, in a note posted on the Web site, said: "Friday (February 28) was a very sad day. After ten terrific years of publishing, Red Herring called it quits."
"Ironically, I has just emailed in my editorial for what was going to be the 10th anniversary issue of the magazine, when I received a call from Red Herring's executive editor, Duff McDonald. 'You are obviously not in the loop,' he said. 'We are shutting the place down today.'"
"The next call I got was from Red Herring CEO, Chris Dobbrow who confirmed what I had just heard."
"Needless to say, it broke my heart to participate in that meeting. I had co-founded Red Herring in 1993 with my partner Chris Alden, and was the company's CEO and editor-in-chief for the first seven years."
"I had felt comfortable initiating AlwayOn (www.alwayson-network.com) last summer, because I thought the worst was over, and the company was back on solid ground."
"But the advertising market remains sluggish and our investors decided they had had enough."
He goes on to add: "Chris Alden, my old partner, and I would like to see Red Herring have its new beginning - a revival.
"With a little time to get beyond Iraq and see some signs of a high-tech turnaround, a few bucks, and a re-energized team, Red Herring could easily return to what it has always been- the best damn technology business magazine on the planet."
Agencies
