What happens when a longstanding company with a history, culture, a place rooted in a community is acquired by another company? What happens when the headquarters leaves the community, when staff is laid off, when the “mission” changes?I confess that I took my very first job in the magazine business because the alternative was, well, a random marketing job with a random consumer product goods company. Or a bank. Or I went on for that law degree that I really didn’t want. So I went into the magazine business because that was something I really liked.And I fell in love with that business.The process of putting together a magazine is really a labor of love. Magazines are cool. They are made for enthusiasts. They entertain. Enlighten. Educate. Exhilarate. They are personal. And the magazine business is personal. It’s been fascinating to watch what happens when some of the legacy group publishers are picked up by PE firms or “digital first” companies. I've watched it both up close and from the sidelines multiple times in this decade on both the B2C and B2B categories.What happens with the cultures of the two organizations? Their history? Their skillsets? Do they merge together and set a new path? Or will they fail to meld together and instead clash and fall apart?If nothing else, this is usually one fascinatingly bumpy but hopefully fun ride. If this happens to you, strap in, stay focused, be ready to state your case for what you think is the best path forward.
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It's Tuesday: When Magazine Worlds Collide …
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What happens when a longstanding company with a history, culture, a place rooted in a community is acquired by another company? What happens when the headquarters leaves the community, when staff is laid off, when the “mission” changes?I confess that I took my very first job in the magazine business because the alternative was, well, a random marketing job with a random consumer product goods company. Or a bank. Or I went on for that law degree that I really didn’t want. So I went into the magazine business because that was something I really liked.And I fell in love with that business.The process of putting together a magazine is really a labor of love. Magazines are cool. They are made for enthusiasts. They entertain. Enlighten. Educate. Exhilarate. They are personal. And the magazine business is personal. It’s been fascinating to watch what happens when some of the legacy group publishers are picked up by PE firms or “digital first” companies. I've watched it both up close and from the sidelines multiple times in this decade on both the B2C and B2B categories.What happens with the cultures of the two organizations? Their history? Their skillsets? Do they merge together and set a new path? Or will they fail to meld together and instead clash and fall apart?If nothing else, this is usually one fascinatingly bumpy but hopefully fun ride. If this happens to you, strap in, stay focused, be ready to state your case for what you think is the best path forward.