Success Magazine Folds
Success magazine—launched just over a year ago by a group of private investors based in Tampa, Fla.—shut down its operations this week, according to Publisher Joseph Guerriero, marking the third time the magazine brand has failed. (The magazine has had two other owners over the course of its history.)
“The owners of Success no longer own the marks and logos, and they’ve decided to cease operations,” says Guerriero, who would not comment on which company had purchased the marks and logos.
The investors closed the magazine’s offices on Monday and let go of the entire staff except for Guerriero, “who will stay on board during a transition period and perhaps other projects,” he says.
Guerriero said the move “really did come as a shock.”
“The past owners—the ones who sold the marks and logos—do own the [magazine’s] assets and the debts, so 100 years of Success belong to them,” Guerriero says.