Felix Dennis and “schmuck insurance”

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Publisher and part time poet Felix Dennis has apparently learned something new during negotiations to buy the rights of a US magazine.

The Press Gazette reports that Dennis told Folio magazine that he is in talks to buy the foreign print and digital rights of the US based mag. Although he ain’t saying which one, he thinks the “respectable” but “tedious” title will sell well in India, China and Russia. Must be a finance or investment related title then.

Anyway, during the negotiations, Dennis said he learned a new phrase – “schmuck insurance” – namely, a provision by the US publisher that Dennis won’t just redesign the magazine and “flip” the mag for millions more 5-10 years down the line.

Five or 10 years?! How much insurance do they want?

[Via Press Gazette]

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