Fangoria Will Have New Owner (hopefully)

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I grew up in the 80s in northern Westchester — lots of preppie dudes playing soccer or lacrosse.

Lockers were plastered with Sports Illustrated swimsuit models.

Mine was plastered with twisted pics from Fangoria magazine, the NY Times of the horror genre.

I was saddened to learn that Creative Group, Inc., the magazine’s parent co., has entered bankruptcy proceedings, according to a Bloomberg article (after clicking the link, scroll to the bottom of the page).

According to an earlier article in BusinessWeek, it looks like the company owes money to film production companies, a company that builds Web sites — heck, maybe even a heating company?

“The company listed assets in the range of $1 million to $10 million and liabilities between $10 million and $50 million. It retained Kenneth A. Rosen and Samuel Jason Teele of Lowenstein Sandler, PC as its legal counsel. The main unsecured creditors included American Express, Troutman Sanders LLP, Direct Energy Systems, Inc. (heat???), Taylor & Taylor Associates, Inc., Banta Publications Group, J & R Film Co., Inc., Discreet Logic Inc., UnitedHealthcare of Illinois, Inc., Sony Electronics Inc., and Media Express, Inc.”

The Bloomberg article says a deal is in the works that would see some NYC private equity firm take over the company.

Horror fans — and they are a group whose loyalty rivals Trekkies and Notre Dame alumni — hope the company concentrates on the mag and Web site, instead of spreading themselves thin with comic books, television, radio and a myriad of other projects Creative Group recently had going.

Why should you care about a magazine treasured by 14-year-old malcontents that glorifies scream queens and graphic gore gags?

Because Fangoria — and its managing editor Michael Gingold — is probably the biggest supporter of independent film in the country.

The magazine and Web site do write-ups all the time on tiny, zero-budget horror movies filming all over the country (including Connecticut), giving much-needed press to up and coming filmmakers.

Sam (Spiderman) Raimi, David (A History of Violence) Croenberg, Guillermo (Pan’s Labyrinth) Del Toro, Peter (Lord of the Rings) Jackson all developed cult followings about 15 years before hitting the mainstream, thanks (I would say) exclusively to Fango coverage.

Just last week during the CT Film Fest in Danbury, local horror producer Andrew Gernhard was singing the
praises of Fango editor Tony Timpone and the assistance the mag gives indie cinema.

It would be a shame if it went away.

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