Mr. Latka has issued an offer of $5,000,000 to potentially acquire Success Magazine and Success.com pending many outstanding items.
With over 2,000,000 downloads on his podcast, Mr. Latka has seen the digital age quickly sweep traditional media while many of these publications shut down.
Newspapers like the Washington Post have sold for fire sale prices compared to past valuations. Magazines like Fast Company and Inc were purchased for $35,000,000 in 2005 according to the New York Times after having been purchased for $350,000,000 just five years prior. A loss of over $315,000,000 in enterprise value in a very short amount of time.
Click the image to view the full offer letter:
Mr. Latka grew up reading success magazine and finds it saddening to visit Success.com today to see a digital presence that generates less than 2 million unique website views according to Similarweb.com while other publications deeply outpace this number.
Many people say the reason is simple. Mr. Johnson, CEO and Founder of SucccessPartners.com, the owners of Success Magazine as of this writing, found early success in 1987 at just 22 years old where his company went from nothing to over $10,000,000 in its first six years.
Mr. Johnson and SucessPartners.com today are the world leaders, maybe the brightest ever, in the direct selling space with hugely successful conferences and brands who are clients that are the who’s who of the industry including: Beachbody, Amway, and many more. With a business that successful, why would anyone invest in bringing back to life a business magazine?
Any gifted negotiator will tell you never to “sell” your company. You lose leverage when you do this. As such, Mr. Johnson responded to questions from reporters regarding Mr. Latka’s offer letter the following way:
No businesses are for sale in any form, to anyone, in any way, said Mr. Stuart Johnson, CEO of SuccessPartners.com
Mr. Latka looks forward to working with Mr. Johnson and his team to bring Success back to its height Mr. Latka remembers from when he was a child including: Print circulation of 500,000+, a 10x increase in unique website views, and a significant increase in revenue.