Final Jet Magazine Never Reached Some Shelves
Souvenir hunters looking for the last print edition of Jet magazine have found it hard to come by on parts of the East Coast — and maybe elsewhere — because the nation’s second largest magazine distributor suddenly went out of business.
“Yes we are aware of the problem,” Desireé Rogers, CEO of Jet’s parent Johnson Publishing Co., based in Chicago, told Journal-isms by email. “Consumers can order the issue on jetmag.com — under the inside jet tab. Also at the bottom of the home page on jetmag.com — under shop.”
The missing Jet magazines resulted from a chain of events prompted by a decision by Time Warner to split off Time Inc.’s magazines into a separate company.
Bill Mickey reported May 28 for Folio magazine, “In advance of its spinoff from Time Warner, Time Inc. has terminated its business with Source Interlink Distribution, its second largest wholesaler. According to a regulatory filing, the decision was made due to $7 million in uncollectible receivables owed to Time Inc. that will be recorded as bad debt in 2Q 2014.
“Source Interlink distributed Time Inc.’s titles to retailers in the U.S. and sales of these magazines represented about 2 percent of the company’s total 2013 revenues—about $70 million.
“Actions like these in the magazine newsstand distribution market typically cause an immediate chain reaction. . . .”
Mickey followed up on the chain reaction the next day, reporting, “As was widely speculated following the news that Time Inc. dropped its wholesale services, Source Interlink Distribution has announced that it’s shutting down.