What People Are Saying: Multimedia Platforms, Inc. Files For Chapter 11
In a formal statement officially released today, Multimedia Platforms, Inc. - the parent company of Next Magazine - issued the following:
Multimedia Platforms, Inc. Files For Chapter 11
New York, New York -- (October 6, 2016) -- Multimedia Platforms, Inc. (“MMPI”) announced today that it and certain of its subsidiaries have filed for Chapter 11 bankruptcy protection, primarily as the result of an ongoing and contentious dispute with a secured lender. MMPI intends to use the Chapter 11 in order to stay the contentious litigation, which recently had significantly impeded operations, and as an opportunity to pursue affirmative relief and restructure its finances while continuing with business operations for the benefit of all creditors and parties in interest.
Mr. Bobby Blair, Chief Executive Officer and Founder of Multimedia Platforms, commented:
“While it was a very difficult decision to take this step, MMPI and its LGBTQ brands have a strong history, loyal following, and a very long-term relationship with its advertisers, readers and viewers. As CEO, I am 100% committed towards the continuation of executing our long term digital media plan to serve the LGBTQ community globally in addition to serving our community in the United States and Canada with a revised print publication business model that will continue to generate monetized content for our readers and online audience. It is management’s plan under the protection of the court to continue to deliver the high level of editorial, lifestyle, and entertainment content that it has always provided to the LGBTQ community. Maintaining relationships with all primary LGBTQ company stakeholders is the number one priority during our reorganizational period.”
A follow up press release will be issued shortly from MMPI outlining revised magazine publication dates for distribution.
After various LGBT news outlets released the initial news that operations had been suspended after assets had been frozen, an outpouring of love took place all over social media for the Next brand. Here is what some of those posts said:
My deepest regrets over the suspension of publication of Next magazine and Frontiers magazine. These have been worthy gay pubs that have connected, entertained, and informed us. I recently had coffee with Next editor Alexander Kacala and he had some great ideas for the future. I'm sure he'll employ them elsewhere. - Michael Musto
RIP Next Magazine, Thank You for allowing me to be apart of the NYC LGBT history. Since July 23, 1993 this magazine addressed topics of fashion, life, entertainment, sex, and LGBT culture news, and was distributed to all NYC gay establishments for FREE. They informed the community and brought them together. - Leo Sweetwood
Queer publications Next Magazine (NYC) and Frontiers Magazine (LA) both suspended publication this week, though neither have been officially shuttered. It would be sad to see both publications go, especially Frontiers, which has been around since 1981 and which I wrote for (just a couple stories) in the 90s. Also, hats off to my friend and Frontiers Editor-in-Chief Stephan Horbelt who made Frontiers relevant in this new digital media age, and is living proof you can't keep a good bitch down. Wishing you all the best, buddy. - Richard Bugo Burnett