Bob Cohen, chief of Out and The Advocate publisher LPI Media, has just been let go. LPI's parent, PlanetOut Inc., has been drowning in financial problems as you might recall. But then Bill Gates came and saved the day with his checkbook. Well, except Bob Cohen's day.
The memo from PlanetOut's CEO Karen Magee below.
Dear Colleagues,
I have an important change to announce that will effect how our company operates going forward.
To achieve the strategic and business goals that we have established for the company for the next few years, we must increase the level of integration between our online and print businesses. This is especially important in the areas of advertising sales, where we must significantly increase our revenue, and in editorial content where we need to maximize our resources and talent across platforms.
Accordingly, we are eliminating the interim president position for our publishing division. Bob Cohen has made many important contributions to our business while he has consulted for us over the past two years; however, given this business shift, his assignment concluded today.
…..
Karen
Editorial Director
Bill Gates has no idea what is happening with these pubs. He is an investor in hundreds of companies. LPI is simply suffering and they are trying to trim fat before they totally sink. The injection of money will be a temporary solution to an old model of magazine that is simply not working. OUT and Advocate are tired.
Well, Bob Cohen FINALLY got what was coming to him. After two years of running LPI's greatest assets into the ground and forcing many, MANY talented people with decades of gay publishing experience between them from their jobs, Mr. Cohen and PlanetOut end up with ZIP. Bill Gates' investment may buy the company some time, but PlanetOut's corporate culture needs to change overnight. Mr. Gates will not be nearly as patient as PlanetOut's other investors have been.
Cohen, Goldberge, Arron, etc., what about gettin' some Roman Catholics in! No wonder LPI has gone down hill: Hollyvoood has come to LPI, which means nadda inovation and penny piching. Oy vey! I'll have another portion of chicken soup..mmmeeee.