The Huffington Post today published a story that suggests Rogers Media is considering closing down Canadian Business, one of the country's oldest magazines. I say "suggests" because it is based on some anonymous sources said to be Rogers insiders. More alarmingly, it also quoted Phil Lind, a Rogers board member whose view seemed to be that the magazine might be a victim of both audience and ad revenue problems, even though it has a circulation of 85,000 and 335,000 unique visitors on digital devices.
Canadian Business is losing subscribers and “there is no money to be had,” Phil Lind, the vice-chairman of the board at Rogers Communications told HuffPost on Monday.
The company’s venture into Texture, the re-named magazine app first launched as Next Issue, hasn’t been as profitable as expected, he added, and Rogers’ television stations are also struggling.Recently, Rogers also announced that it would be cutting some 200 jobs in its magazine division.
Labels: Rogers Publishing