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Article: Pricey buy of 'Fast Company' may bring G&J a big payday.(Brief Article)
- Article from:
- Advertising Age
- Article date:
- January 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When you consider the sale of Fast Company in a slowing economy for the warp-speed price of $350 million, it's tempting to see it as a fitting symbol of this loony New Year. But if you let history be your guide, you might see Gruner & Jahr's acquisition as one of those necessary bet-the-company wagers that may indeed pay off big.
Yes, if true, the reported price is some four times the amount disbursed by the, um, ``inscrutable'' Si Newhouse for Wired a few years back. To those who haven't been paying attention, that may seem like four times the futility-paying Internet money for an Internet magazine, just as the Internet economy is turning to dust and dishrags.
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