Parent companies

Parent companies are large companies, which control other smaller businesses by owning a majority of their stocks. Time Inc. is a great example of parent company for magazines. They were found in 1922 by Henry Luce and Briton Hadden, they are based in New York City. They own and publish hundreds of magazine brands. Annually they sell over 350 million copies.

It is important for a magazine to have a parent company because it bring brand recognition to them. This allow magazine to keep their names, whilst they still grow in popularity because of their parent company. Another reason it is important for a magazine to have a parent company is that some of them give you the ability to make you magazine worldwide as long as it is a good magazine. This means parent companies allow you to international with your magazine. 

I would like my magazine to be part of the Eldridge Industries because it publishes many similar magazines to mine. Examples of this magazines are Vibe who is a music and entertainment magazine, which features actors, both R&B and hip hop artists, comedian and more. Another magazine they publish is Billboard who publish reviews, news, music charts and more. They release up 17, 000 copies per week. Third magazine they publish is the Hollywood reporter they main focus is Hollywood movies, but they also talks about television, music artists, fashion, law and more. furthermore, i have chosen this parent company for my magazine because it will help me get my magazine to the right audience, this means my magazine would not be going to the wrong type of place like newspaper stands. Another reason is because Eldridge Industries is one of the best parent companies meaning my my magazine will be at an advantage if i use this company. Also if this company produces my magazine, is is more likely to become successful because parent company will give my magazine a guidance and more income. This means my magazine will be able to grow bigger and will be able to become more professional since they will help me improve.