Media Week magazine to close

Haymarket Publishing is to close Media Week magazine after almost a quarter of a century in print, as part of a major restructuring programme.

The publication will continue online, with a full-time digital editor taking the reins. It will be integrated into the existing Brand Republic portal.

A "centralised hub" of reporters will now cover news from the media, advertising and marketing sectors for the website.

Haymarket's other media titles, Marketing and Campaign, will be unaffected by the cuts, although its digital media publication Revolution will become a quarterly supplement within Marketing magazine.

Today's print edition of Media Week, dated November 17th, will be the last for the businesses-to-business (B2B) publisher. Around 18 media jobs will be lost from the division.

Commenting on the developments, Paul Farrer, chairman of pfj recruitment consultants, said the closure of a B2B magazine does not come as a surprise in the current economic climate.

However, he said: "The current recession has seen media owners rein back trade marketing budgets and recruitment consultants - who are the foundations of classified advertising - slash advertising."

He said the closure of Media Week will have wider implications for the sector, as it highlights a continued shift towards the internet by young media planners and buyers who are willing to embrace digital platforms.

"It also sends a message to the B2B Media community - if you haven't changed your business model yet, you need to," Mr Farrer remarked.

Posted by Stanley Jack

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