LONDON – The owners of the Press Gazette, which covers the print news industry in Britain, said Monday that the publication will cease after its May issue.
The Wilmington Group, which brought the publication out of administration three years ago, said both the monthly print edition and the online version would close.
The group said it had invested significant funds in hope of making the 43-year-old publication profitable.
“Unfortunately Press Gazette, along with much of the profession, has suffered from a declining market during these years and its losses have increased,” the group announced on the Press Gazette Web site.
“We have therefore been forced to conclude that the market required to sustain a commercially viable Press Gazette magazine no longer exists,” it said.
The monthly magazine, which had been a weekly until August, had some 2,500 subscribers paying 115 pounds ($171) a year.
Wilmington said it would continue to support the annual British Press Awards.
ON THE WEB
Press Gazette: www.pressgazette.co.uk