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Wednesday, April 7, 2010 | 8:31 a.m.
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Entertainment and lifestyle publisher 944 Media LLC filed for Chapter 11 bankruptcy reorganization in Los Angeles on Tuesday.
The company publishes in Atlanta, Dallas, Detroit, Las Vegas, Miami, Orange County, Calif., Phoenix, San Diego and San Francisco; and operates a Web site, 944.com.
944 said it sought protection "to assure its continued operation in the face of several potentially burdensome lawsuits."
"The whole point of this proceeding is to enable us to keep doing what we do while resolving the litigation in an orderly process. We are confident that 944 Media will be able to resolve our pending issues, but prudence dictates that we take steps to protect ourselves, our employees and our clients through the Chapter 11 process," founder and CEO Marc Lotenberg said in a statement.
944 is based in Beverly Hills, Calif.
The company bankruptcy filing listed assets of $1 to $10 million and liabilities of $10 million to $50 million. One of the company's largest creditors is Creel Printing & Publishing Co. of Las Vegas, owed $2.45 million.
944 Media said it has received new financing and that its operations will continue uninterrupted.
On its Web site today, 944.com listed "Top 9 Fun Facts About Chapter 11 and Hot Lawyers."
No. 1, according to the Web site, is "Hey, it happens."
"Reorganization is not uncommon. In 2009, there were a total of 11,785 filings," the Web site said.
In Las Vegas, 944 is a competitor with Greenspun Media Group, owner of the Las Vegas Sun and other publications.
I take it this "story" is posted as a benefit to your sales reps.
ya, shhh...
if you listen REALLY close...
that's the sound of all the greenspun media groups cutting and pasting this story and emailing it.
wait until "what's on" files for banky...they'll hire a skywriter.
but really...how long was this concept going to last?
they got A LOT of mileage out of pages and pages of photos of "generic club girl" and "generic club guy".
I've flipped through this magazine a few times when I've seen it in hotel rooms. It's boring as boring can be. It makes your average math text book read like "Fear and Loathing in Las Vegas". Of all of the reading material that hotels leave in rooms for their guests, you can always tell that this one gets touched the least.
If you're the kind of person who cares about designer shoe laces, and other nonsensical aspects of the "Famous for being Famous" lifestyle, then 944 is for you. Otherwise it's totally unrelevant to your average person, let alone tourist. It has no actual demographic that it caters to, so much as it's more like an ego trip for the contributing writers and publisher who love to hear their own words written in print.
Note: This story permits reader comments, but no story the Sun publishes about the Sun, Greenspun Media Group, or its executives, permits reader comments.
Was never a fan of 944....It was a magazine that made me feel feel low because I could not afford to enjoy the fun that the magazine boasted about....I would rather look at a fashion magazine full of anorexic models knowing that I can afford to be skinny by spending less on food....
This magazine, much like the Greenspun Media Groups Vegas, are all full of nothing but high end advertising and advertorials. It is ridiculous the lack of substance to these magazines.
All of the party girls in the Las Vegas nightclub photos in this magazine looked the same. I always had to look two or three times to see that it wasn't the same girl in every photo. It's not 944's fault, but maybe their 'magazine' is just as generic as their 'readers'.
But party on, 944, while you make light of declaring bankruptcy. The Sun should interview the owner of Creel Printing--I doubt he/she is finding any humour in this fun filing.
These magazines never learn. They are mostly full of high gloss advertisements for the same stuff that nobody buys in the expensive casino shops. It's about time they all went out of business.
This magazine was BORING! But their new one, Seven, is not bad at all. Wonder if that will fail now too...