Thomas F. Coates III, Wyckoff's attorney and a member of 64's board of directors, says the board is "marshalling together the assets we have." The board, which includes many prominent Richmond business and arts leaders, has been convening to discuss how the magazine will consolidate its assets and settle its debts. Wyckoff says the board should reach a decision by the end of the summer.
Someone did express interest in buying the magazine, but "that did not pan out," Coates says. Wyckoff says the potential buyer was the owner of Richmond Guide, a free glossy publication for tourists and newcomers that showcases local restaurants, hotels and attractions.
It's still not clear what will happen to the money 64 raised from a May 9 benefit concert starring pianist Bruce Hornsby. Wyckoff says she doesn't have exact numbers for how much profit the concert reaped, though ticket sales exceeded expectations. About 1,800 were sold, she says, including $64 seats and $125 after-party tickets, amounting to about $146,000. Only five or six corporate sponsors backed the event, however, when Wyckoff had hoped for 10.
Originally, the concert profits were supposed to provide the capital for 64's New Artists Fund, which was designed to give artists stipends to create projects that would be featured in 64.
Wyckoff told Style last month that the fund never came to fruition: "It's part of 64, so if 64 doesn't exist, the fund doesn't exist."
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