Posted February 24, 2018 07:51:33Singapore’s Clinton magazine has sold $1,5 million in titles in 2017, the magazine’s owner said on Wednesday, in a sale that is part of the magazine being sold to a US publisher.
Singapore Times publisher Roberta Chen was quoted as saying in a statement on Tuesday that the sale was part of a strategy by the publisher to “move forward with our goal of expanding our circulation” and also to “open a new chapter for the magazine.”
Chen said the magazine had been sold to the publisher by the former owner of the company, The New York Times Group, which owns The Guardian and The New Yorker.
The sale follows a similar deal between the two publications in 2017.
Chen had earlier said the sale of the magazines, which she said was worth $300,000 each, would not result in any loss of profits.
The company did not immediately respond to a request for comment.
Clinton is the second foreign-owned publication to be sold in Singapore.
The magazine was sold to publisher HarperCollins in 2013, and sold in 2018 to the American publisher Simon & Schuster.