Editor & Publisher, the 108–year-old trade magazine of the US newspaper industry, is to cease publication.
Parent firm The Nielsen Company told staff yesterday that the magazine which launched 1901 was to close both its print and online editions.
Nielsen Business Media, of which E&P was a part, told staff that it had forged a deal with e5 Global Media Holdings – a new company formed jointly by Pluribus Capital Management and Guggenheim Partners – for the sale of eight brands in its Media and Entertainment Group.
Those brands included E&P sister magazines Adweek, Brandweek, Mediaweek, Backstage, Billboard, Film Journal International and The Hollywood Reporter.
However, E&P was not included in the deal, along with a title called Kirkus Reviews, and the decision was taken to close both publications.
Greg Mitchell, editor of E&P, said: “I’m shocked that a way was not found for the magazine to continue it some form – and remain hopeful that this may still occur.”
Editor & Publisher was launched in 1901 but traces its history to 1884 as it merged with a magazine The Journalist, which had started on that earlier date.
Greg Farrar, president of Nielsen, told staff yesterday the sell-off and the closure of Kirkus and E&P was a result of the company’s intension to focus on its core businesses.
He said: “This move will allow us to strengthen investment in our core businesses – those parts of our portfolio that have the greatest potential for growth – and ensure our long-term success.
“We remain committed to building our trade show group and affiliated brands. These assets continue to be a key part of The Nielsen Company’s overall portfolio and we strongly believe they are positioned to grow as the economy recovers.
“In addition, we’ll continue to assess the strategic fit of our remaining portfolio of publications.”
The trade magazine reported yesterday that news of its demise spread quickly through the US.
It said E&P staffers received 1000 or more emails – many from well-known media figures – expressing shock and/or support. It said some even pledged to send money for print or online subscriptions to keep the magazine going.
The name “Editor & Publisher” even became the fourth highest “trending topic” on Twitter at one point yesterday – beating Tiger Woods – and remained in the top 10 much of the day.