THE END OF LM MAGAZINE
Statement by Mick Hume, editor
On Tuesday 14 March, the High Court ordered the connections of LM
magazine to pay ITN and two of its journalists a total of #375 000
in libel damages. The next day, we received a letter from ITN's
lawyers, Biddle, demanding the money. Within a week they had sent
another demand, with court order attached.
As a consequence of this, Informinc (LM) Ltd, the company which
publishes the magazine, is now having to go into liquidation, cease
trading and make its employees redundant. Myself as editor, and
Helene Guldberg as co-publisher, also face the threat of personal bankruptcy.
The current April 2000 edition of LM will be the last monthly issue.
We are trying to raise the finance to publish a final, bumper issue
of LM in the summer, and go out with all guns blazing.
The LM-initiated Institute of Ideas, a series of events planned
to take place from June to July, will go ahead in partnership with
major institutions in London, including the British Library, the
Royal Institution, the Royal Shakespeare Company, the Royal Society
of Arts, Tate Modern, and the Union Chapel Project. A new company,
the Academy of Ideas, has been set up by Claire Fox to coordinate these events.
We would like to thank all of our subscribers and Friends of LM
for their support. They will be contacted directly about the implications of the
magazine's closure.
Anybody who can help to finance the final issue of LM should get
in touch with Helene Guldberg on (020) 7269 9228.
The LM Online website will continue to operate for the time being (at
www.informinc.co.uk).
As for the post-LM future of magazine publishing, watch this space.
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