In 1969, Interview magazine was founded. It is a publication that details arts and culture, and which was started by Andy Warhol. On Monday, May 21, 2018, employees of the magazine company publicly tweeted that the publication is filing for bankruptcy. This comes nearly 50 years after the first issue was released. Let’s take a look at the history of Interview magazine, what happened, and the specifics about this bankruptcy:
As we’ve already seen, Andy Warhol founded Interview magazine in 1969, under the original working title inter/VIEW. Nicknamed “The Crystal Ball of Pop”, the purpose of the magazine was to offer readers a look at unedited interviews with stars and celebrities across the culture and arts & entertainment industries. After Andy Warhol’s untimely death in 1987, at the age of 58, Brant Publications, Inc. acquired the magazine and has since been publishing issues, 9 per year. Over the years, however, popularity of the once-thriving magazine has been slowly dwindling, leaving questions gone unanswered about its fate, until today. Similarly, Brant Publications has seen a rather high turnover rate concerning the magazine. In its heyday, Interview captivated readers with inside views into the lives of their favorite celebrities, while also inspiring design aspects, which similar publications were quick to adopt. After news broke of its folding, mourners flooded social media platforms, expressing their sadness and heartbreak over the once-biblical publication.
So, other than declining popularity, what caused the publication to go bust? Earlier last month, on May 2, 2018, former Editorial Director Fabien Baron and his wife, Ludivine Poiblanc, filed a lawsuit in the amount of $600,000 against Interview and Brant Publications, Inc. Similarly, in 2016, former employee, Deborah Blasucci, who had been with the company for over 30 years, filed a lawsuit against the publisher, citing wrongful termination.
Over the past several months, financial mismanagement within Brant Publications has eluded to the end of an era. Ezra Marcus, an associate editor of Interview magazine, said in a statement, “We’ve all seen the end coming for a few weeks now.” Due to the aforementioned lawsuits, several months of financial mismanagement, declining popularity, and a high turnover rate, the magazine will file for Chapter 7 bankruptcy.
It’s sad to see such a prominent magazine like Interview fold after its extensive history. At The Law Office of Barry R. Levine, we understand that bankruptcy is a process and a scary one at that. We’re here to guide you through each step of the bankruptcy process, offering you a fresh start if your filing is approved, thus rescuing from undue financial hardship. Contact The Law Office of Barry R. Levine today by phone at 978-922-8440, or visit our website at http://levinelawoffice.com.