David Perel, exec VP of AMI News and a veteran celebrity scandalmonger, was named managing editor of RadarOnline, which will introduce a redesign early next year. Some Radar staffers will find positions at American Media, but editor in chief Maer Roshan said he did not plan on coming along.
National Mag Award nom
"I was feeling pretty optimistic because we basically doubled circulation over the last year, doubled advertising over the last year, had things in the works with VH1 and ABC," Mr. Roshan said this morning. The magazine had snared a nomination earlier this year for a National Magazine Award in the general excellence category. Conversations with big advertisers were ongoing, he said.
But the investors backing this incarnation of Radar told Mr. Roshan last week to find new financing, only to lower the boom today, Mr. Roshan said. "In the end, we needed investors who could see more of the long term and basically rise above the fear of the short term."
Yusef Jackson, the lead among those investors, said in a statement today that he was merging RadarOnline.com with American Media. "By teaming with AMI, we will build on what we have already established with Radar while at the same time accelerating the potential for our return on investment," he said. "It is a win-win for both partners."
Radar's second incarnation shuttered in 2005, when Mort Zuckerman withdrew his financial support. Mr. Roshan's first effort to get the magazine off the ground ran out of financing in 2004.