I have had a lot of fun publishing Radius magazine. The mission was to provide a positive antidote to the numbing, distorted, depiction of Newark printed daily in the Star-Ledger. Radius tried to suggest what was positive and fun about returning to Newark.
Unfortunately, our sponsors (we call them “Founders”) are removing their support for the magazine one by one. When I first began to publish Radius I canvassed the anchor institutions of Newark before assuming a financial endeavor like this. Initially, we were blessed with 31 Founders financially subsidizing us. Since then we have lost 14 and are now down to only 17. With full sponsorship my negative cash flow was about $11,000 per issue which I was happy to donate. Now it is up to $50,000 per issue or $200,000 per year. We have been able to keep costs low by hiring only one editor, one art director, and one production manager, all working remotely as freelancers. All staff and overhead (including use of my office, my employees, my office equipment plus all of my personal time as Publisher) were donated free of charge. The only payments of any sort were to the three freelancers mentioned above.
The diminishment of the Founders list has surprised me. Most of these institutions are housed in Newark and have a vested interest in improving the environment in which they work. Oddly enough, some of the largest institutions (like the Devils or the Edison Parking) have never joined the Founders group at all, and these are the institutions that were the first to benefit from the increased traffic that Radius produced.
In any case, the plan is for Radius to cease publishing at the end of this calendar year. It really makes more sense for me to devote the $200,000 of negative cash flow to my Foundation, which launches minority business in Newark and has a direct impact on changing lives. After this issue we will put out two more. Publishing this magazine has been a labor of love, trying to help revitalize the City that maintains a soft spot in my heart. I would hate to terminate publication, but if I cannot rectify the financial bleeding by the end of calendar 2016, Radius will become history.
Paul V. Profeta