Georgia Trend, the Atlanta-based business magazine started by Times Publishing Co., will be sold to newspaper publisher Millard B. Grimes. Grimes, whose Athens, Ga.-based company publishes the quarterly statewide magazine Georgia Journal as well as a daily newspaper in Conyers, Ga., and a weekly newspaper in Athens, is expected to assume operation of Georgia Trend Monday.
Launched in September 1985, Georgia Trend achieved critical acclaim but never turned a profit, losing more than $5-million during its six years of operations, said Andrew P. Corty, director of marketing and affiliates for Times Publishing Co. The monthly magazine has a circulation of about 40,000.
"We . . . plan to make a profit, and quickly," said Grimes, who intends to become president and editor of Georgia Trend. "That has to be the goal of any magazine, and especially one reporting and analyzing business."
Among the staff of 18 employees, 12 will remain with the new owner, said Corty. Some of those leaving the magazine, including editor John Fleming, may join the staff of the St. Petersburg Times, which is owned by Times Publishing Co.
In January 1990, Times Publishing stopped publication of Arizona Trend after four and a half unprofitable years.
The publishing company's remaining business magazine, Florida Trend, "carries on and will grow from here," Corty said. The magazine had been profitable until the current economic recession and "will again be profitable," he said.