Out Magazine Owned by Straights in Jeopardy

                           

I would like to share with you a situation happening to "Out" Magazine and reported this morning by David Uberti in Vice/news. Adamfoxie blog went through and still not completely out through a financial situation at the beginning of the year. Thanks to one of my readers {Frederick} which gave the first push to allow a small breather until funds could come from other places. This blog is very different from "Out' Magazine and the blog is never been here to make any money (We still take contributions on the left by the red fox🦊).

The problem with 'Out' and other gay media is that is owned by straight people trying to make a buck and when times get a little rough they drop it like a hot potato. That is the main reason that gay media has been dropping out of the map like a turkey shoot in Hicksville, NC. This is another of the negatives of a for-profit model of government. You can't even break even, no profit you go down. When you put your heart and blood to a site with a clear vision of what you want to accomplish even if you have to sell some of your stuff and buy fewer groceries you do it because is for your community.

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It’s Pride Month, and Out magazine — the iconic LGBTQ title that’s chronicled queer culture for more than a quarter century — is in jeopardy.

The magazine’s long-simmering financial crisis came to a head last week, and for a minute it seemed Out’s days were numbered. In the end, it received a last-minute cash infusion to pay the freelance workers who produce much of its content. 

But the company now faces another huge challenge: The mismanagement led to staff disillusionment and rebellion, and it’s unclear what will come next.

The unanswered question looming above it all, several current and former Pride Media employees told VICE News, is why a private equity firm owned by a straight man bought a queer media outlet with serious cash-flow problems in the first place.

Another publication owned by the same private equity firm — the weed magazine High Times — could hold clues to that mystery. And a review of High Times financial documents and interviews with current and former Out staffers suggest it doesn’t look good.

“This is a story of greed — of people who want to own media for their own cultural cachet or power or private gain,” one senior staffer at Out said. “Those people always fail queer people and people of color first.”