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Case
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Reference no. E4
Subject category: Entrepreneurship
Published by:
Stanford Business School (2002)
Version:
3 March 2003
Length:
21 pages
Data source:
Field research

Abstract

Bob Nylen and Dan Okrent were publisher and editors respectively, ex- New England Monthly, a regional magazine the pair founded in 1983. Although not a financial success thus far - the magazine continually operated in the red - it was an editorial hit. It won the coveted National Magazine Award twice, in 1986 and 1987. By April 1988 Dan and Bob were convinced that the best course of action was to sell New England Monthly to a large, strategic partner like Time Inc. With the support and resources of such a partner, - they felt they could grow the magazine substantially. Surprisingly, the Board of Directors rejected Time's eventual offer. Bob and Dan were left to figure out what to do next.

Topics

Acquisition; Valuation; Entrepreneurial finance; Equity financing; Board of directors
Location:
Industry:
Size:
USD3 million revenues
Other setting(s):
1983-1988

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