Robert Parker has decided to sell “a ‘substantial interest’ in the Wine Advocate to a trio of Singapore-based investors.”
Even more shockingly, he “intends to step down as its editor in chief, turning over editorial oversight to his Singapore-based correspondent, Lisa Perrotti-Brown.”
As Felix Salmon wrote this morning, “nothing about this deal makes any sense.”
First, there have been countless assurances from Parker that he had no intention of making such a move. Just last month, Parker assured Teague that he had no plans to sell the newsletter, “in part because he would not relinquish editorial control.”
Then, there’s the news that the Wine Advocate “will start accepting advertising, though none that is wine-related.” This, of course, runs counter to the Wine Advocate’s official “Ethics and Standards,” which includes the following lines:
“Even more important is to refuse all advertising – from any source. This guarantees total independence. The Wine Advocate and eRobertParker.com are 100% subscriber funded and supported. We do not permit any advertising.”
Just as shocking is the casual aside from Teague that the Wine Advocate will begin “[producing] tasting events, another focus of the new Wine Advocate.”
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