Reed Business Information property Video Business announced that the January 4th issue of the weekly magazine will be its last.
VB’s owner, Reed Business Information, is shuttering the magazine and its online operations, effective this week, as part of a larger, ongoing strategy to divest itself of most of its business-to-business publications in the U.S. The company also is closing MBT (Manufacturing Business Technology) and Industrial Distribution.Reed had given employees the heads-up that they would soon announce the sale of some of its properties, but that those that had not found buyers would face being shuttered, with the inevitable round of layoffs.
"We have not been able to sell the business as a whole and this unfortunately will result in title closures and job losses across the business during the first half of the New Year," wrote Reed CEO John Poulin in the internal memo distributed to employees on New Years Eve.
Video Business had been publishing for 29 years and according to its last BPA statement had a circulation of 14,020, down considerably from its June 2005 statement of 40,031.
Update: Both Folio: and BtoBOnline are reporting that Penton will be closing two of its print publications, but keeping the web sites: American Machinist and Welding Design & Fabrication. The welding book has a fairly active forum as part of its site, WeldingWeb, raising the number of page views and unique users. At least three positions have been eliminated in the move.