A rumour has reached us that Syntagma Media is in the process of being sold. This is not true, at least as a bare statement of fact. Since someone’s got wind of ongoing discussions, though, I may as well spell out some of the details.

For around four months we’ve been talking to a retail consultancy about a form of cooperation agreement. Initially, they were reluctant to get closely involved with a blog network. Blogs were what their kids did when they weren’t watching cartoons on TV. However, they liked our publishing ethos and the quality of delivered content.

Our move towards a magazine format has quickened their interest and we’re not too far from a deal. My preference would be for them to take a 40% stake in the business and handle the IT and advertising, leaving me to concentrate on the publishing side. It would optimize the expertise in-house.

They have huge experience of the retail business and a large number of high-powered contacts. Were this to happen it would put us in a prime position in the marketplace, especially with big stores and shopping malls.

Maybe now our small band of critics can see the full intention behind the magazine format and leaving behind the Blogosphere Game. To them I say, don’t jump to conclusions when you don’t have all the facts.