It’s a strange wait-and-see game at the magazine these days. While we’re busy writing, editing, and designing the pages of our next issue (which will be a blockbuster), we’re also anxiously awaiting word about our new owner.
A second round of bids from at least five finalists, according to media reports, are now due tomorrow afternoon. The earliest outcome of this auction is now Thursday morning, though it could be even later. The wait has been excruciating. Who buys both Fast Company and Inc. from G&J USA, which is exiting the U.S. magazine business, will largely determine the fate of both magazines.
Some bidders clearly have little, if any, interest in Fast Company. So the staff is quietly and obviously rooting for an acquirer who believes in what we do and wants to support us. The most difficult part of this process is working through the uncertainty with focus and purpose. Luckily, we love what we do here. We take great pride in bringing you a magazine that is unique and different. And we do it as a team and as a community. We’re friends as much as we’re colleagues.
That’s probably why it’s also so worrisome. We cherish this little community of ours. Many of my staffers believe they’ve never worked in as supportive an editorial environment with as many people they genuinely liked. It’s hard to even imagine or accept the loss of something that special. So stay tuned. We’ll try to keep all our fans informed of the decision as soon as possible. And we’re hopeful that we’ll land in the hands of an owner who knows our true value and believes in our mission to serve our readers.
John A. Byrne