nettime on Tue, 28 Apr 1998 05:09:03 +0200 (MET DST) |
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<nettime> further adventures of a webzine |
[excerpted from the NYTimes online, April 27, 1998] Buyer to Revive Two Online Magazines <...> Zapata Corp., a food-processing business based in Houston, will announce Monday that it is acquiring Word and Charged magazines from Icon CMT Corp., as a first step in a "radical transformation," according to Zapata's chief executive, Avram Glazer. As part of the refocused business, Zapata, founded by former President George Bush and a partner in 1953 as an oil-drilling business, will also change its name to Zap. Under Glazer's family, which acquired Zapata in 1994, the company has left the energy business. "Zapata is launching a major strategic initiative to acquire Internet and electronic-commerce companies," Glazer said. Last month, the initial public offering of a marine protein products business in which Zapata owned a stake, Omega Protein Corp., raised $130 million. <...> Icon CMT, a network services provider based in Weehawken, N.J., suspended publication of the two magazines in March and laid off their employees, saying the operations did not fit into the company's core business. <...> Enter Glazer, whose family is known for its seemingly disparate investments. Glazer's father, Malcolm, bought the Tampa Bay Buccaneers football team in 1995 for $192 million. The Glazer family also owns the Houlihan's restaurant chain. <...> the employees of the magazines would be rehired. <...> Glazer said he saw symmetry in Zapata's decision to refocus itself around a new technology. "When George Bush founded Zapata 40 years ago, he was in the cutting edge of technology in the oil-rig business," Glazer said. "You can almost relate it to this point in the Internet." <...> [Copyright 1998 The New York Times Company] --- # distributed via nettime-l : no commercial use without permission # <nettime> is a closed moderated mailinglist for net criticism, # collaborative text filtering and cultural politics of the nets # more info: majordomo@desk.nl and "info nettime-l" in the msg body # URL: http://www.desk.nl/~nettime/ contact: nettime-owner@desk.nl