Our corporate parent publicly hung a "For Sale" sign on the magazine today. Gruner & Jahr USA sold four of its women's service magazines to Meredith and announced that it would seek a buyer for both Fast Company and Inc.
Understandably, it's a difficult and sad day at the office. The faces at my staff meeting today showed much worry and concern as well as frustration. I understand those feelings because I share them. And more than that, I am deeply disappointed in G&J's decision to leave the U.S. magazine market where it has had a significant presence for the past 15 years.
At Fast Company, putting out this magazine every month, is not merely a job for us. The editors, writers, artists, and production folks not only bring their intellect to the job of creating a world-class product for our readers. They bring their hearts and souls to Fast Company each and every day. For us, this magazine is a teaching community: It's about personal growth, learning, and making a meaningful difference in the lives of our readers. We're extremely proud of our work and feel honored to serve our readers as best we can.
Over the next few weeks, as my team struggles with the uncertainty and worry that inevitably comes during a transition like this, I want every reader to know that we intend to work as hard and as smart as humanly possible. Our goal: to continue to publish what we believe is the best business magazine on the planet. And I want to publicly thank each and every member of my editorial, advertising, and marketing staffs for believing in us.
Thanks for all your support and understanding. The best is yet to come.
John A. Byrne