Absolute saved
Posted by
Jeffrey Blyth
on 21 March 2006 at 13:38
Tags: Magazines, United States
The glossy celebrity magazine which laid off its 30 American staff because of a copyright suit brought by the Swedish company that makes Absolut Vodka, has been rescued by a wealthy American real-estate developer William May.
He has taken over the magazine, which was owned by a Spanish company and reportedly had lost $10 million since its launch in the United States a year ago.
The lawsuit was adding millions more in legal costs. The latest issue, which had been printed but not distributed, is now on its way to readers.
Tags: Magazines, United States
