Back in December, news broke that Parker 2012 had sold a stake in The Wine Advocate. Several months on full details of the sale remain surprisingly sketchy, although the stake sold is rumoured to have changed hands for $15 million. The new investors are Singaporeans, at least one of whom still has close ties to the wine business, through his family’s ownership of a major wine importer, but the identity of the others remains – to my knowledge, do fill me in if you have seen it reported somewhere – a mystery.
One key point that was clear, however, was that The Wine Advocate would be changing from using the services of independent contractors to employees, in other words a renegotiation of working relationships. Some have, I believe, signed up (at least they haven’t denied it) but one who had no such intention was Antonio Galloni. Having had a high-flying career in finance he gave it all up to write for Parker, and having been anointed as a potential successor by Parker himself in the past the news must have been galling. On the day the news broke Antonio wrote on the Parker forum:
“It’s business as usual for me. I am 100% committed to providing readers with the best commentary and service possible for the regions I cover. My tasting and travelling schedule remains unchanged. I have never been more energized about the future than I am right now.”
….which struck me at the time as saying nothing about intending to carry on working as a Wine Advocate employee rather than as an individual. Yesterday evening the New York Times Diners’ Journal ran an article which revealed Galloni was indeed going it alone. With a new website in development, www.antoniogalloni.com, he is set to establish himself as an independent rival to The Wine Advocate.
I understand that Galloni owns all the work he produced during his time under Parker, and so there is nothing to prevent him using this as the base for his new online journal, and he has established a very strong following, so I am sure he will be successful. Nevertheless such a move is a brave one (any such business/career development imbues a sense of nervousness). It comes, says Galloni, not purely as a result of the sale of The Wine Advocate (although this was a deciding factor he says) but of a desire to communicate to a younger audience, having seen too many young diners swilling beer instead of wine. The project was clearly well underway when The Wine Advocate was sold; no wonder Galloni had “never been more energized about the future“!
Sadly for Parker subscribers, most of this information came their way from the New York Times, and not from the publication to which they open their wallets. With Galloni’s departure, and little sign of the new developments – either in terms of technology, or of the hiring of new talent – that was promised with the arrival of the new Wine Advocate “investors”, I would think some of those wallets will be closing upon learning this news. Which, by the way, is not conjecture; I am merely looking at the tone of the first few responses on the Parker forum, when the news was brought there by a Parker subscriber.
I wish Antonio all the best in his new venture. He is clearly excited by it, and as I indicated above I am confident he will succeed.