Future Looks Bleak for Poder and Loft
çAs of August 31st, Zoom Media Group was shut down and all employees were let go. Poder and Loft magazine are no longer in circulation as of that date and Zoom Media Group has filed for Chapter 7 bankruptcy, meaning the company can no longer be sold as a whole entity. Group publisher Rosa Alonso says there is still a possibility that someone could buy the titles and rehire some of the same employees, but says that so far no one has stepped forward with that intention. Zoom Media's main shareholder Venezuelan company Manduca Media, which bought approximately 60 percent of Zoom Media and assumed management control two years ago, did not respond to inquiries as to the reasons for their decision to pull their investment. According to Alonso, there were no signs that the end was near. “Everything was going really well. The October issue was going to be the best issue we've had in terms of advertising and editorial,” says Alonso.
Earlier this year, Editorial Televisa teamed up with Poder's Mexican edition and recently took the magazine biweekly. According to media sources it appears that this project is still moving forward.
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