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Business 2.0 insiders have said that the Time Inc. is planning to shutter the magazine, with September being its final issue. However, a stay of execution may still be possible.
The reason for giving the magazine the axe is a sharp downturn in advertising revenue, which was down 38 percent through July 9 of this year, per figures from the Magazine Publishers of America, writes The New York Times.
Paid circulation in 2006 hung steady with 2005, at roughly 623,000.
If the magazine does fold, 10 editorial employees will remain aboard to help Fortune magazine cover Silicon Valley, insiders say.
Employees within the company believe that part of the problem was caused when the advertising sales teams of all Time Inc.’s finance and business publications - Fortune, Money, CNNMoney.com, Fortune Small Business and Business 2.0 - were combined. Sales executives focused on the larger titles like Fortune and stopped selling the niche appeal of the smaller publication, they believe.
Editor Josh Quittner has unsuccessfully attempted to get venture capitalist backing in order to buy the struggling magazine from Time Inc. He had no comment about the possible folding of the magazine.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Top American non-luxury auto brands received higher ratings and less negative comments from online consumers than competing Japanese brands, according to an analysis of consumer opinions collected from automotive review websites by Biz360, MarketingCharts reports.
The research, which aggregated a year’s…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
