Current affairs and satirical magazine Phoenix has gone into voluntary liquidation after more than 40 years on Irish newsstands. The fortnightly, which was established by John Mulcahy in 1983, was regarded as ‘a must-read’ for anyone with an interest in getting the inside stories, and proved a thorn in the side of Ireland’s political, media and business classes.
The owners, Penfield Enterprises, had been trying to find new investors to keep the magazine afloat but were unable to do so. Over the weekend, a statement appeared on the Phoenix website saying they were no longer accepting subscriptions. Over the two decades to 2024, the magazine’s circulation was halved. More recently, it was selling about 10,000 copies.
Phoenix was modelled loosely on Britain’s Private Eye
In recent years, the magazine was run by Aengus Mulcahy and edited by Paddy Prendiville. Founder John Mulcahy came up with the Phoenix title – rising from the ashes – after a number of his publishing ventures collapsed. He was forced to close down Hibernia due to a costly libel case. Phoenix declined to carry bylines in its news stories and feature profiles.
Its line-up of regular features included Affairs of the Nation, Last Refuge, Fit to Print? and Pillars of Society, and a host of topical cartoons. Phoenix didn’t hold back in exposing rogues, fraudsters and criminals. Several costly libel actions were avoided by forensic legal scrutiny. In recent years, the magazine lacked content and its layout looked dated.
Latest accounts filed for Penfield Enterprises shows accumulated losses of €101,00 after an annual loss of €21,300 in 2024, almost three times the €18,100 loss recorded in 2023.
