'Upside' reportedly folds

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San Francisco--First, the Industry Standard, then Line56, followed by Forbes ASAP. The new economy magazines are dropping one by one, and on Tuesday the New York Times reported that Upside magazine, which had been taken over by MCG Capital Corp., Arlington, Va., has been shut down. The magazine will not publish its October issue.

Lester Craft, Upside’s editor in chief since June, also oversaw the final issue of Line56, a magazine that covered b-to-b e-commerce.

Various news outlets also reported that on Monday Red Herring Communications sold its assets to RHC Media, which is owned by Broadview Capital Partners. The move was made to “reduce the burden of onerous real estate contracts,” according to The Wall Street Journal.

--Sean Callahan

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