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Popular Woodworking owner files for bankruptcy

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Forum topic by TheDane posted 03-14-2019 01:42 PM 1641 views 0 times favorited 18 replies Add to Favorites Watch
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TheDane

5813 posts in 4398 days


03-14-2019 01:42 PM

Topic tags/keywords: popular woodworking bankruptcy

F+W Media, the publisher of Popular Woodworking (and other niche magazines) has filed for Chapter 11 bankruptcy. Citing declines in both subscriptions and advertising revenue, they plan to pursue sale of assets during the bankruptcy case.

Here’s a link to a USA Today story on their filing.

-- Gerry -- "I don't plan to ever really grow up ... I'm just going to learn how to act in public!"


18 replies so far

View pottz's profile

pottz

9459 posts in 1719 days


#1 posted 03-14-2019 02:02 PM

i do subscribe to pw so i would be sad if it goes but that seems the reality today everything is going on line,the cost of printed magazines are killing companies because todays generation just doesn’t buy printed material anymore.just look at the newspaper industry and how many have gone out of business.thanks for sharing this gerry.

-- sawdust the bigger the pile the bigger my smile-larry,so cal.

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Woodknack

13282 posts in 3115 days


#2 posted 03-14-2019 08:43 PM

I’ve never been a Pw reader. They hired talented writers and woodworkers over the years but it just never caught on with me. Wonder what will happen to their rights over The Woodwright’s Shop early seasons.

-- Rick M, http://thewoodknack.blogspot.com/

View Bill Berklich's profile

Bill Berklich

1085 posts in 1123 days


#3 posted 03-14-2019 09:13 PM

Wow, that’s too bad. I’ve been a pretty regular subscriber but tailed off the last two. I was just thinking about renewing again this year.

-- Bill - Rochester MI

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TheDane

5813 posts in 4398 days


#4 posted 03-14-2019 09:56 PM

I’ve been a pretty regular subscriber …

Me too. I subscribe to the magazine, which is okay even though a lot of it deals with stuff that is no longer in my wheelhouse since I have gravitated to turning. Popular Woodworking sponsors Tim Yoder’s woodturning videos, which I would sorely miss if Tim loses a major sponsor and has to cease production.

-- Gerry -- "I don't plan to ever really grow up ... I'm just going to learn how to act in public!"

View Joe Lyddon's profile

Joe Lyddon

10918 posts in 4787 days


#5 posted 03-14-2019 11:01 PM

I’ve been a subscriber to Pop. WW’g for years… and have enjoyed them.

Over recent years, I’ve noticed that their magazine has been getting Smaller and Smaller… now, the size of a large brochure!

I still take it… I will be sorry to see it GO… I hope someone will buy it and turn it around…

CUT the staff down to bare bones with people doing multiple jobs, etc. while getting it back to a profit…
It’s time to really tighten the pant strings… and pray…

I guess it’s too late now… TOO damn bad!

Dane, Thank you for the report!

-- Have Fun! Joe Lyddon - Alta Loma, CA USA - Home: http://www.WoodworkStuff.net ... My Small Gallery: https://www.ncwoodworker.net/forums/index.php?media/albums/users/joe-lyddon.1389/

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oldnovice

7529 posts in 4103 days


#6 posted 03-15-2019 03:09 AM

I never subscribed to PW!

But, I have I have many other magazines I would like to pass on to those that are interested!
However, before I take the time counting and organizing by date I would like to know if anyone is interested.

In order of quantities from most to least:
  1. Shop Notes 1992 to 2016, way too many to count
  2. Woodsmith, 55 issues
  3. Wood, 33 issues
  4. Woodworkers Journal, 20 issues #Woodcraft, 5 issues

I did this once before and all I ask is shipping charges!
Let me know what you are looking for and I will see if that/those issues are available.
I would rather do this than recycle!

The reason I am posting this here is that for some yet undetermined reason I cannot start a new forum post!

-- "It's fine in practise but it will never work in theory"

View woodsmithshop's profile

woodsmithshop

1411 posts in 4280 days


#7 posted 03-15-2019 01:15 PM

Glad for the info, my renewal is coming up, so I will hold off for now on that.

-- Smitty!!!

View moke's profile

moke

1540 posts in 3511 days


#8 posted 03-15-2019 09:13 PM

It is a reality that the print media is suffering in general. PW is a good magazine, I also subscribe, I hope they can survive.

-- Mike

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Craftsman on the lake

3251 posts in 4173 days


#9 posted 03-15-2019 09:22 PM

Yes it’s enjoyable to browse techniques and ideas in magazines like this but..

How many of us look things up on the internet, or places like youtube for info? Often you can find what you want without a subscription. Just like:
I don’t need newspapers.
I don’t need a small engine manual to work on my snowblower.
I can find out how to change out a shower cartridge (the exact model) on youtube.
Etc…..

The world changes. Stuff like this was predicted long ago, and it’s not over yet.

-- The smell of wood, coffee in the cup, the wife let's me do my thing, the lake is peaceful.

View Andybb's profile

Andybb

2745 posts in 1338 days


#10 posted 03-16-2019 01:08 AM


todays generation just doesn t buy printed material anymore.
- pottz

And why would they when you can instantly bring up every edition in the palm of your hand? Nor do we listen to radio mystery series anymore. My son has a law degree from Georgetown and can barely read cursive but he can type faster than I can talk, while he’s talking and watching TV. Time marches on. :-)

-- Andy - Seattle USA

View pottz's profile

pottz

9459 posts in 1719 days


#11 posted 03-17-2019 04:40 AM


todays generation just doesn t buy printed material anymore.
- pottz

And why would they when you can instantly bring up every edition in the palm of your hand? Nor do we listen to radio mystery series anymore. My son has a law degree from Georgetown and can barely read cursive but he can type faster than I can talk, while he s talking and watching TV. Time marches on. :-)

- Andybb


exactly!

-- sawdust the bigger the pile the bigger my smile-larry,so cal.

View sawneck's profile

sawneck

49 posts in 3889 days


#12 posted 03-29-2019 09:03 PM

yeah i got the news today about the bankruptcy after a Christmas gift subscription from my wife. First issue was pretty pathetic, then found out no more Chris Schwarz writing anything for them. They obviously looked to cut costs by scaling back what they provide to the customer before cutting back internally first. the magazine is literally the size of a large pamphlet and the content and ads left alot to be desired.

I cancelled my subscription and got my money back I am not supporting a sinking ship. I will stick with FWW and Woodsmith to satisfy my magazine desires. PWW won’t be able to climb out of $105M in debt with only $2m on hand.

View TheDane's profile

TheDane

5813 posts in 4398 days


#13 posted 03-29-2019 10:20 PM

Got this email from PWW today (3/29/19) ...

Important message about your magazine subscription from F+W Media

A message for subscribers of Popular Woodworking magazine

To Our Valued Customer,

Over the years, F+W Media, Inc. and its affiliated companies (“F+W Media”) have strived to provide inspiration, instruction, and exclusive products and services through its various magazines, online education, print and digital books, subscription video sites, consumer and trade events, and online stores. Many things have changed over the years, but one will always remain the same: our commitment to you, our customer, in making sure that you have access to the latest content of our craft, art, writing, design, knitting, quilting, and outdoor enthusiast communities.

We recently announced a plan to strengthen F+W Media through a financial restructuring. This plan is designed to guarantee that there will be no change in the services and content that our customers expect from F+W Media.

In order to avoid any confusion or inaccuracy, I am writing to you personally to share two things that we want all customers to know:
—We are open for business. Customers can continue to subscribe to our magazines and shop across our online stores without disruption.
—All orders will arrive on time as promised.
The financial restructuring will be done through a court-supervised process. On March 10, 2019, we began that process by voluntarily filing reorganization cases under chapter 11 of the Bankruptcy Code in the District of Delaware. Operations will continue as usual throughout the court-supervised process, including meeting and exceeding the needs of our valued customers.

We have asked for, and the court has approved, our ability to keep serving you in the same way we have in the past. At F+W Media, we are honored to offer products that provide inspiration in the daily lives of our customers and we want to thank you for being a part of our enthusiast communities. If you have specific questions with respect to our Chapter 11 reorganization please contact us here.

Gregory J. Osberg,
Chief Executive Officer

-- Gerry -- "I don't plan to ever really grow up ... I'm just going to learn how to act in public!"

View poopiekat's profile

poopiekat

4721 posts in 4469 days


#14 posted 03-30-2019 04:02 AM

Though I’m still a FWW subscriber for over 25 years, I do see the trend toward a lot of activity in primarily You Tube. The problem with some of these You Tube posters is that they can present information that is either incorrect, unsafe, or just plain wrong.
Articles in magazines at least had to be vetted and approved, the online videos are not screened for suitability for woodworkers of varying skill levels. I was just watching some guy drill 1/4” thick strap iron, with no clamping or vise on the drill press. I observed how he carefully held the iron down manually, but made no verbal emphasis on the need to fix the item securely before drilling.
I’m amused at how the slightest admonishment on my part, as diplomatic as I can be, sometimes results in a backlash by those who ought to know better. This generally does not happen with magazine articles, due to careful and responsible editing. Sign of the times, I guess.

-- Einstein: "The intuitive mind is a sacred gift, and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift." I'm Poopiekat!!

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Mikhail2400

9 posts in 428 days


#15 posted 03-30-2019 02:02 PM

They arent the first or the last print publication to go under in the digital age.

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