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  #1  
Old 03-15-2019, 10:42 AM
Rich Klein Rich Klein is offline
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Default F&W Media Files For Bankruptcy

They are the owners (or were because I have not read an SCD for quite a while) of Sports Collectors Digest and their Standard Catalog,

I've written quite a bit about this in the past for my old Sports Collectors Daily column and don't want to say anything more right now. I'll probably save any comments for an upcoming GTS column

https://www.forbes.com/sites/tonysil.../#63b1af5b4355


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Old 03-15-2019, 10:43 AM
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Its a sad day indeed.


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  #3  
Old 03-15-2019, 12:46 PM
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Default Thanks, Rich

Read the Forbes column, folks. It is a true stunner. I'm a retired trade press journalist so this naturally caught my eye. I also read Writers Digest regularly. It's one of F+W's pubs.
What blew me away was the fact that F+W spent $6 million in its crafts business and generated only $3 million in business. Oh. My. Goodness. Talk about mismanagement and someone at F+W simply not knowing what they were doing. It also sounds like companies they dealt with F+W took advantage of them. Sad story. But it is all too common in journalism nowadays. Thank you.
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Old 03-15-2019, 02:17 PM
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Tough times for print media in general. My wife somehow got on someone's mailing list and she's been receiving 7 or 8 magazines every month for the past year. None of which she ordered or even had ever read. As far as I know they haven't even tried to get us to be paid subscribers. I guess they just want copies out there in people's hands.

I signed up for SCD about a year ago. I did so because I missed having a hobby publication to page through. Back in the day I received all of them and loved it. I've already decided not to renew SCD when my sub comes up because, frankly, there's not a lot to read in each issue. Too much of it is auction recaps which really don't interest me. MAYBE every other issue has something worth the cover price.
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Old 03-17-2019, 03:47 PM
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Almost all print is having a tough time.
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Old 03-17-2019, 05:42 PM
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$2 million on hand, $105 million in debt. What a mess. I dont know how people keep extending credit to a company that upside down and I feel for all those who did and are going to lose through no fault of their own.
Im sure everyone here has had a subscription to scd at some point. I think my first subscribed back in 1987 or so when I was in high school. Or sucks to lose an institution and hobby mainstay. This was obviously a small piece of this companies media catalogue but it meant much more than that to us.
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Old 03-18-2019, 04:32 AM
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Here's another short article from eCOMbytes:

https://www.ecommercebytes.com/2019/...ine-publisher/
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Old 03-18-2019, 07:31 AM
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There's a enormous amount of opportunity there if one wanted to pick up where they left off. An entrepreneur could do so without the weight of the legacy structure.
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Old 03-20-2019, 12:08 PM
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I still wish Old Cardboard did their print magazine. But it is the way of the day, I guess. Everything is online and on a cellphone (yuck). Here is some print....



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Old 05-15-2019, 12:15 PM
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Default An Update

One of my old hobby friends, who is an attorney, just posted a link to a Bankruptcy Court update on Facebook.

There is nothing apparently positive in the current bankruptcy situation for F&W (No Buyers)

It's a sad day in hobby history and hopefully a buyer will be found for F&W

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Old 05-15-2019, 12:48 PM
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Do we know what it would take to acquire it? I assume the outstanding debt is what is scaring people away in a situation like this.


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Old 05-15-2019, 12:55 PM
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It's in the Delaware District Case # 19-10479. I'm sure any one with enough money can buy them out at this point.

Rich
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Old 05-15-2019, 02:42 PM
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If you have access to PACER (Public Access to Court Electronic Records) you can look at the case. PACER is available to anyone, you just need to register and provide a credit card. The charge 10 per search and the same per page to view a document, i.e. a 20 page document would be $2.00. I use it every day for my job and it is quite handy.

The correct docket entry is 1:2019bk10484 under the name F & W Media International Limited.
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Old 05-15-2019, 02:44 PM
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Truth be told, I believe my wife has access. I will check with her this evening. Thank you.


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  #15  
Old 05-15-2019, 02:50 PM
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A failed company in an industry (print media, not the hobby) with a bleak future? No surprise that there aren't folks lining up with a check.

At the risk of sounding like an old man yelling at clouds, I'm really sad over the state of the printed word these days. I remember when we got a morning paper delivered (Newark Star-Ledger), I threw an afternoon paper (Newark Evening News), and most days my father brought home one or two late editions of NY papers he'd read on his commute (Daily News and/or Herald Tribune).

Back on topic...as mentioned above, I really hope there is room for a well-done hobby publication. But I'm not very optimistic.
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My hobby blogs: Five Tool Collector 1959 Topps Baseball 1958 Topps Baseball 1960 Topps Baseball

Current Projects: 1971 Topps Baseball, 1953 Bowman Football, 1960 Leaf Baseball

Player Collections: Billy Pierce, Charles Bender, Brooks Robinson, Frank Robinson, Elston Howard, Mike Cuellar Always looking for unique Billy Pierce items

"...enjoy these cards as they were meant to be enjoyed." -sage advice from Ted Z, 2019
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  #16  
Old 05-15-2019, 04:32 PM
Rich Klein Rich Klein is offline
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I'm a print guy but the world has changed.

Recently I saw a 1991 copy of the Dallas Morning News and it had something like 17 sections on a Sunday and I think Saturday had like 10 and weekdays like 12.

I noticed that because while having lunch on a recent Saturday at Cowboy Chicken. the Metro (DFW) and Business section were combined. There were like 3-4 total sections. Period, end of sentence.

I think in a couple of years we'll have 2 sections: 1) News (Local, National and International with Business Included)
2) Sports

Many daily papers in small areas. if they still exist. are down to ONE section

The printed word is diminishing every day.
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Old 05-16-2019, 05:58 AM
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If they start selling off remaining assets, someone could buy the Standard Catalog rights and database I assume.
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Old Yesterday, 08:20 AM
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It would be great if someone would buy the database rights but I am not sure it's a winning proposition for anyone. Kids (and too many adults) are too addicted to their phones to pick up a book.

Quote:
Originally Posted by toppcat View Post
If they start selling off remaining assets, someone could buy the Standard Catalog rights and database I assume.
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Old Yesterday, 10:20 AM
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Onething SCD did not do, which I wished they had, was to digitize all their weekly papers they did from the 90s. Bob Lemke was frustrated about this I know too, as I wanted to read some old articles he did. I recall there was no way to see them in any archives.
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Old Yesterday, 10:25 AM
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Quote:
Originally Posted by Leon View Post
It would be great if someone would buy the database rights but I am not sure it's a winning proposition for anyone. Kids (and too many adults) are too addicted to their phones to pick up a book.

The database would be the thing to buy, as it could be used for an online catalog.
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