It’s true: Trump Magazine, the classiest publications in the tri-state market, is also quickly becoming one of the brokest. Remember how well the Donald did with the casino business? Yeah, well, let’s just say that the magazine bidness hasn’t been quite so forgiving.
According to Radar, Trump’s quarterly cross between Panache and Skymall is “on the verge of financial meltdown.” It goes on to quote unnamed sources saying, “They owe money to everybody and are being sued every which way. … Will Donald come in and help reinvigorate it with some personal funds? It’s all a matter of timing.”
The magazine begain in 2004 as Trump World, and as I wrote back in January the publisher, Premiere Publishing Group, recently shifted the target audience to the New York region. Apparently the strategy isn’t working all that well, since the mag’s staff has dwindled from 25 to fewer than 10 and, according to the SEC, Premiere lost $5.6 million last year. Somehow amid all this, The Donald still gets a $135,000 royalty payment for each issue.
OK, don’t go getting any crazy ideas, Dr. Louis InTown. You’ll continue to get your royalties in ground beef and like it!