Tag Magazine selling off assets after closure

Last edited 12:44 p.m., May 12, 2014

Mixed-media company Tag Magazine ended its run May 1, and its owners continue to close up business with the sale of its assets.

Tag, which was launched by business partners Allen Vaughan and Brett Johnston in December 2009, grew to encompass hosted events, a monthly magazine and a weekly sports radio show in addition to its website, podcasts and social media avenues. It was housed downtown at the corner of Jefferson Avenue and Walnut Street, in a building owned by Nick Sibley, according to Vaughan.

With the tag line, "The awesome guide to Springfield," the company was designed to provide information on the city's music, nightlife, events, sports and food industries, according to its website.

"It wasn't so much financial as it was we were trying to figure out what was best for us," Vaughan told Springfield Business Journal, referring further questions to a blog post about the closure. "We could have kept going. It was just a matter of what we thought we wanted to accomplish with our careers."

He said the two business partners are actively searching for new job opportunities.

On a separate blog post, Tag is liquiditing its assets, which included items from a sound mixer and office chairs to a couch and refrigerator. The company's website and social media outlets - claiming 1.1 million views for TagSGf.com., 4,500 likes on Facebook and 2,900 followers on Twitter - were listed for sale with bids accepted until May 9.

Vaughan said most of the assets have been sold, with the largest item left being the sound mixer. He said there has been some interest in purchasing the website and social media outlets, though he said the buyer's goal would need to be similar to Tag's.

"The concept we still feel is a viable business model," Vaughan said.

Tag's sponsored events included the annual outdoor music and community Do Good festival, and Happy Hour Live, a weekly event held at University Plaza. Tag hosted its last Happy Hour on April 30, according to its website. After a competitive bid process, Springfield Business Journal was selected to present the ongoing business networking event. SBJ's first time hosting Happy Hour Live is May 14.