Trojan Publishing's monthly men's gizmo magazine, Switched On, has closed after just three issues, leaving the six editorial staff redundant.
The decision to axe the title was thought to have been made by the shareholders, not by management, as the title was losing the company money.
Sports editor Terry Daley said the staff were not bitter about the situation, as they were given a good redundancy package, and he felt the company had been upfront with the editorial team.
He said: "We knew the situation when it started up — if it didn't make money we knew we'd be out. That was pretty much the situation. It didn't make them the money it was supposed to, so they cut their losses."
Switched On grew from monthly lads' mag, Ice, which Trojan took over from Icicle Media in June.
Daley said the relaunch of the title as a gadgets magazine was an attempt to away from its "low-end, grotty, tits-out" reputation, which he said turned off contacts when they tried doing anything new with Ice.
Two months ago, Trojan Publishing closed recently-purchased top-shelf monthly Penthouse, after attempting to reposition the magazine as a sophisticated adult title.