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Frank Warren, arguably the biggest promoter in the UK, was one of the many who raised their eyebrows when Oscar De La Hoya’s Golden Boy Promotions announced their acquisition of the most well known and respected boxing magazine in America, The Ring. [details]
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For a magazine considered the "bible" of boxing, 7 mil sounds kind of cheap. -
It sounds like a lot to me. The "Ring" is long past it's glory days when it was run by Nat Fleischer, it's founder. THAT was when it got it's (then) well-earned reputation, with lots of hard work and top-notch, fearless reporting. After he passed away in 1972, and after a couple of fairly solid publishers(former employees) took over but couldn't really run it the way Nat did, it went downhill.....all the way. I believe it closed up a few times, going bankrupt etc. It's been revived....sort-of, in the past few years, and it's only because the state of boxing these days is so putrid, that it can claim again to be "the Bible of Boxing" even though CLEARLY not a patch on what it was. I look at their ratings from time to time and don't think much of them, I'm sure they leave out a good few deserving names, and include a similiar amount who are not worth their places. But I'm just speaking for myself. That $7 mill may also have been the total price for the Ring and the other 3-4 Boxing and Sports magazines, which I understand, were sold as a complete package........Most magazines have a tough time making a profit, and would ALL go BROKE is they didn't have advertizing revenue.Comment
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