‘I’m Tired of Trying to Scrape a Magazine Together at My Own Personal Expense’
Publisher’s farewell e-mail to the magazine business.
There’s no doubt running a magazine business is a difficult task these days. Publishing magazines that serve the housing market even more so.
One of those publishers, Greg Morey, CEO and publisher of GR Wyse Publications, apparently has had enough. In an e-mail Wednesday, Morey wrote that he is shutting down the company and shuttering the magazine it publishes, Florida Designers Review.
“I am tired of trying to scrape a product together and fighting a vertical battle at my own personal expense,” Morey wrote.
Yikes. Morey’s entire, painful, e-mail:
From: Greg Morey
Sent: Wednesday, January 14, 2009 12:56 PM
To: Greg Morey
Subject: Farewell for now.
Unlike the Paper industry who in its infinite wisdom has found the ability to raise prices again, Florida Designers Review finds itself in an environment hit hard by a housing market decline, litigation with clients over unpaid invoices, and now an ad market in decline rendering us with too few commitments to produce this quarter’s issue and likely the Q2 issue as well.
SAVVY, our local Luxury Lifestyle product launching in time for Super Bowl, has also not received the volume of commitments necessary to launch, so I have directed them to International Plaza’s new magazine, which they are launching with Niche Media, the publishers of OCEAN DRIVE. Bottom line, I am tired of trying to scrape a product together and fighting a vertical battle at my own personal expense, so the inevitable has come to pass and I am dissolving GR WYSE PUBLISHING and suspending FDR for a different time. A time perhaps where paper manufacturers, printers, and distributors alike can grasp a deeper understanding of the term "partnership" understanding that without one another they stand to all perish.
While I am sure for some of you this comes as no surprise and perhaps my humble appreciation for your contributions to FDR falls short of your hopes and expectations. The product was exceptional thanks in part to your efforts, but most of the credit for FDR goes to Mario Garcia Jr. for his exceptional ability to craft a story from questionable submissions and his exceptional eye for unique page design. I have enjoyed every second of working with each of you and will carry the FDR experience with me into the future. My best wishes to you and may your own pursuits find better success.