NEW YORK: Red Herring Communications Inc. is shopping itself to rival
publishers, as the market for technology-focused magazines wanes, the Wall
Street Journal reported in its online edition on Monday.
Citing people familiar with the situation, the paper said the company, which
owns Red Herring magazine, a Web site, a conference business and a research
unit, has in the past few weeks approached both AOL Time Warner Inc.'s Time Inc.
and closely-held Ziff Davis Media Inc.
Neither Time nor Ziff Davis are interested in pursuing a deal, the paper
said. Representative for Time and Ziff Davis declined to comment, the paper
said.
It's unclear if Red Herring wants to sell just the magazine or the entire
company, or if any deal will be completed, the report said. This wouldn't be the
first time Red Herring has engaged in similar talks, the paper said.
(C) Reuters Limited 2001.