Is <em>Time Out</em> Coming To Your City?

IsComing To Your City?

Tony Elliott has big plans for Time Out.

The founder of the weekly city magazine chain has hired an investment bank, San Francisco's Houlihan Lokey, to raise $40 million to $60 million in capital through the sale of a minority stake in his company. According to three sources, Elliott intends to use the money to expand the Time Out brand to six new American cities: Los Angeles, Dallas, Boston, San Francisco, Seattle and Miami. (Right now, its only U.S. editions are New York and Chicago.) Because the new editions would be web-only, at least at first, the target markets don't have to meet Time Out's usual criteria of a well-defined downtown area and a large base of mass-transit commuters who frequently pass by newsstands.

Popular in the Community

Close

What's Hot