HagerTY, the UK-based media company owned by David Hager, has confirmed it will not sell “the golden arch” in its portfolio.
The news comes after Hager TYC revealed last month it would be selling “the Golden Arches” brand of brands, including “The Golden Arched” magazine, to “a third party” in 2017.
However, Hager-TYC CEO Nick Ketcham confirmed that it will remain in the portfolio and that “the portfolio will not change”.
“The portfolio will be the Golden Arcs for some time,” he said in a statement.
“We’ll keep the golden archers in our portfolio for some years to come.”
There will be no change in the Golden Arch brand.
It will continue to be part of our portfolio.
“Hagerty has been heavily criticised in recent months for its “crowdfunding” model for its publishing business.
In August 2016, the company was criticised for failing to raise enough funding for its flagship magazine The Golden Archers after only raising $10m.
Haggen said in February that it was reviewing its portfolio to decide what to do next, adding that it could potentially look at a sale. “
We’re in a tough time and we’re going to do what we can to make sure that we’re the best possible company that we can be,” he told the Sydney Morning Herald at the time.
Haggen said in February that it was reviewing its portfolio to decide what to do next, adding that it could potentially look at a sale.
“The way we think about it is we’re looking at the portfolio to see what the best business is for us, where the market is at now, what the future of the brand looks like, and that’s what we’re trying to do,” he wrote on Facebook.
Despite the criticism, Haggerty is still one of the biggest publishing houses in the world.
Its annual revenues in 2017 totalled $4.8bn, and Hagerity’s market capitalisation is around $15bn.