So what would you pay for a business that has never turned a profit and has lost a million dollars or more every year in its fourteen years of existence?
Clarity Media Group CEO Ryan McKibben announced today that the company had acquired The Weekly Standard magazine, which he characterized as “one of the most highly respected publications of public policy and political commentary in America.”
According to McKibben, Clarity Media Group intends to build on the editorial strengths of The Weekly Standard’s current staff and increase the magazine’s circulation and ad pages. “We have the highest regard for the editors and staff of The Weekly Standard, particularly founder William Kristol and executive editor Fred Barnes. The Weekly Standard’s content deals with the most critical public policy issues of our time, in an intelligent and compelling way.” said McKibben.
Other magazines (real ones, not wingnut workfare programs) are cutting back, print advertising revenues are in the toilet, and yet McKibben, who actually said "We have the highest regard for the editors and staff of The Weekly Standard, particularly founder William Kristol and executive editor Fred Barnes" without breaking into crazed laughter and smearing feces on himself, says he is going to increase circulation and ad pages.
Perhaps they’re using the Pajamas TV business model of giving away content for free (in much the same way that Clarity Media Group is already handing out free newspapers) in which case the purchase of the Weekly Standard probably makes sense in that "opposite of smart" way that we fail to understand. That would make this the best media buy since Eagle Publishing bought RedState just so they could access the royalty stream every time someone yells "Wolverine!".
You almost have to wonder how much Philip Anschutz would be willing to fork over to the South Park guys for the right to use Underpants Gnome Media. Probably like a billion gazillion dollars.