USA – Los Angeles-based exhibition trade magazine Tradeshow Week has been shut down by publisher Reed Business Information along with 22 other titles, having failed to attract a buyer.
The 40-year-old magazine, a direct competitor to EW’s stateside partner Trade Show Executive, has been under intense pressure from the impact of the recession, and according to RBI CEO Keith Jones, ‘media migration’ in the market is such that the company cannot see its way back to profitable growth.
No additional print issues of the magazine, which had more than 2,000 subscribers, will be published, and the website will close on 30 April, 2010.
“This is very sad for all of us in the RBI community and I wish colleagues at these titles the very best for the future and thank them for their services to readers, advertisers and the company,” he told employees. “I want to thank the entire divestment team for playing a focused and dedicated role in guiding the sale process. I know they have done their utmost to find new owners for these publications.”
Since putting its US trade titles up for sale last summer, RBI managed to sell 21 brands, including Broadcasting & Cable, Casual Living and Design News, which it claims amounts to two thirds of the revenues of the portfolio to be divested.
“After nine months of concerted efforts by John Poulin, Jeff DeBalko and their teams, we have decided we must now conclude the divestment process for the remainder of RBI-US,” says Jones. “Effective immediately, we are closing the publishing operations of the titles that remain unsold.”
