Despite resistance from Time Out’s founder Tony Elliot, the investors of the company are selling the New York and Chicago editions of the company for $40 million. The New York edition is selling twice the number of copies than the London edition and with this move, Elliot is certainly not happy. Unfortunately he couldn’t find a way out of this situation according to his will and he didn’t have enough money to make the deal himself.
He says:
We don’t need to sell New York, this is entirely driven by the investors.
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