So Radio One went to the store yesterday and picked up Giant Magazine and all of their assets for about $270k according to the wires yesterday. Founder Jamie Hooper and Editor in Chief Smokey “Debarge” Fontaine have put themselves in a position of catching a decent check from Cathy’s baby boy Alfred Liggins. $270k sounds kind of low, I’m sure there are some Radio One shares (yikes) and other incentives. Fontaine is an author and former urban dot com guy who has been in the game a minute, this is a big deal for him. He has made some very smart moves at the mag, one of which is bring over Scott Poulson-Bryant as its Editorial Director. I actually really like the mag and respect their digital strategy.
The deal is sweet and necessary for Radio One which will leverage the 70 stations AND TV ONE to really push the magazine and integrate content. Maybe they will even attempt a digital strategy…”a great idea, and much needed Alfred.” This spells real trouble for Vibe, the magazine that Radio One was pursuing hard last year this time. The real question who will Giant bring in as publisher to “shake some trees” and get the ad money. The pickings are very slim but don’t be suprised if a major poaching happens in the next few days that changes the dynamics of the urban magazine game…..yeah I know I’m being vague but I can’t tell you everything I know now can I??? Ok it’s not Dave Mays, there’s a hint–LOL