Posted by : ikelos on 04:36 PM, 23-Apr-2011
In light of new factual information, Pokerkaki.com issues the following amendments to the article below -
- Baller Magazine has in fact been acquired by a company based in Hong Kong.
- Baller Magazine is suspending operations till Q3 or Q4 2011, and not, as was previously reported, ceasing operations.
- The loss of two major advertising accounts was not a contributing factor to Baller suspending operations. The magazine was on solid financial ground.
An official statement is expected from Crescendo within the next month.
Baller Magazine, Asia’s Premier Poker and Lifestyle Magazine and the Official Media Partner of the Leisure World Poker Series, has quietly ceased publication and circulation throughout the Asia-Pacific. It is understood that the magazine’s editorial, account management and production staff were collectively informed of the decision in late February 2011, and given ten days notice regarding the cessation of employment. It is also understood that the company met all wage obligations to departing staff.
Crescendo Publishing, the owner of Baller Magazine, has yet to release a public statement regarding the abrupt and enigmatic dissolution of its Baller team, and the popular magazine. An ex-staff member, who did not want to be named, cited the loss of two large advertising accounts as one of the contributing factors. It is not known if Baller has existing obligations to advertisers and subscribers, and if so, how it intends to address those concerns.
The status of the magazine as an ongoing business entity is as yet unclear, as recent news updates are still in effect on http://www.ballermagazine.com.
Baller Magazine’s publisher could not be reached for comment.