The new magazine, carrying the working name Digital Money, will launch later this year and focus on investment opportunities in Internet companies and stocks. It will complement The Red Herring, a 65,000-circulation monthly, and Hits, a quarterly supplement to Red Herring.Mr. Perkins said Herring soon plans to introduce an Internet-based technology news and business service that he dubbed a "high-end CNET," referring to the service set up by competitor CNET: The Computer Network.
Building on Herring's magazines and news service, Mr. Perkins said he also plans to launch a research service for corporate clients, in which Herring analysts would deliver analysis and reports via a private network.
Privately owned Herring will double its staff from about 60 people this year to support the new ventures, Mr. Perkins said.
Copyright March 1997, Crain Communications Inc.