Cabal closes Good Health and seeks additional funding

Cabal is closing Good Health and is thought to be looking for a buyer for Maximum Mountain Bike. It is also said to be seeking new funding.

Cabal is closing Good Health and is thought to be looking for a

buyer for Maximum Mountain Bike. It is also said to be seeking new

funding.



Its finance director denied rumours that the company is up for sale.



Chief executive Sally O’Sullivan and managing director Andrew Sutcliffe

were in meetings and unavailable for comment as Media Business went to

press.



Cabal has been beset with rumours of financial difficulties following a

report that the editor of ProCycling, William Fotheringham, resigned

because the company did not pay his contributors.



The company was launched in July 1998 and is backed by a group of

investors that includes the Guardian Media Group chairman Bob Gavron and

Lord Archer.



The licence to Good Health is to be handed back to Good Health

Publications under the terms of the contract by which it was purchased

in January 1999. Advertisement director Charmian Denison is moving to

men’s lifestyle launches.



A BBC 2 documentary of Cabal’s launch, Trouble Between the Covers, airs

tonight (17 January).



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