Groove Guide not dead yet

There is now a

A last minute sale deal looks set to save local music magazine Groove Guide from closing down, publishers say.

Owners Tangible Media yesterday confirmed the upcoming issue 371 of the free weekly mag would be its last.

It said the magazine was not financially sustainable in a music market marked by the rise of social media and blogs.

The announcement came six months after the title was merged with long running magazine Real Groove in a bid to make it financially viable.

But publisher today Vincent Heeringa today said he had received three offers to buy Groove Guide since announcing its closure.

One potential buyer was a clear frontrunner and had a "better than 50-50" chance of having a sale signed off by tomorrow, he said.

"I don't think the final chapter has been written for Groove Guide.

"I hope it could put out issue number 372. It's not a done deal but it's proceeded to documentation level. I'd put it as better than 50-50."

None of those offering to buy the magazine were large publishing companies and none had expressed interest in buying it before, Mr Heeringa said.

He said the magazine could be profitable if it were run by a smaller outfit with a strong connection to local music.

Its planned closure had ignited passions for both street press and the magazine as a product, he said.

"We are a reasonably large company now and that comes with expectations of return on investment. Overheads are reasonably high.

"We've got a set of publishers here like me who we've got to keep smoking cigars and driving fancy cars. There are costs to be saved by the owner being the guy who runs the business."

He could not confirm editor Sam Wicks and brand manager Emily Govorko would regain their jobs at the magazine if it was sold.

Mr Wicks yesterday said the magazine could be profitable if it was picked up by new owners.

He said it was held in high regard by promoters, who saw it as their "bread and butter" for listing upcoming shows.

Groove Guide is described as New Zealand's only free, weekly, nationwide streetzine.

It features artist interviews, reviews of music, films and games and a large listing of upcoming shows.