The following year, the British billionaire financier and tycoon Sir James Goldsmith set up Seawise & Titanic Salvage Ltd. with the involvement of underwater diving and photographic experts. His aim was to use the publicity of finding Titanic to promote his newly established magazine, NOW!. An expedition to the North Atlantic was scheduled for 1980 but was cancelled due to financial difficulties.[9] A year later, NOW! folded after 84 issues with Goldsmith incurring huge financial losses.[18]