In an unusual move to market 15-month-old International Figure Skating
magazine, parent company Paragraph Communications is issuing stock to raise $500,000 capital for an advertising and marketing campaign to reach 100,000 paid circulation by next year from its current 20,000. Each stockholder with $500 investment is to get a lifetime subscription. The magazine has such advertisers as McDonald's and ABC Sports. The Worcester, Mass.-based company is able to make the offering, which will roll out on a state-by-state basis, as a result of a Securities & Exchange Commission regulation allowing small businesses to raise up to $1 million if they can attract buyers.