AFR closes MIS Magazine
Financial Review Group has closed technology publication MIS Magazine, Mumbrella can reveal.
There are no redundancies as a result of the closure, as the title’s editorial team has been redeployed on the Australian Financial Review and afr.com.
A decline in ad revenue has been given among the reasons for the closure. “Advertisers in the technology space have moved more aggressively online than other advertising categories,” MIS Magazine’s editor Brian Corrigan told Mumbrella.
MIS Magazine’s website, misaustralia.com, now directs to afr.com.
The Financial Review Group’s CEO and publisher Brett Clegg said in a statement:
We have made the pragmatic decision to focus our technology coverage in our paper and online, rather than concentrating it in the form of a monthly controlled circulation magazine.
It is wrong to see this as a diminution in our commitment to the information and technology space. Rather in the coming period you will see that we are substantially expanding the scope and depth of our coverage.
We have a number of exciting initiatives in train which will engage and delight our category readers and commercial advertisers. Our recent pricing changes around afr.com have resulted in a dramatic lift in online subscriptions which creates an exciting growth platform not just for our technology journalism, but across all our publications.
That’s a real shame, given the publication was one of the best reads in the industry. But I suppose why the magazine disappears the content won’t, given the statements by Mr Clegg and the assurance that the MIS team is being redeployed to the paper.
With a bit of luck there’ll now be a daily dose, rather than that satisfying hit every month.
Good luck to the team!
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Gotta love Fairfax. They try to sell profitable assets to raise profits, sack quality controllers (subs) to raise quality and axe IT mags to cover more IT…
Guess it all depends on which direction you are twirling, twirling, twirling!
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Such a pity. The Australian market lacks targeted publications. Hope CFO doesn’t go the same way.
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I can’t believe they didn’t try to sell the mag. I heard that Gill paid around A$18m for Strategic Publishing around 98-99. Surely there is someone out there willing to pay A$500k-A$1m or 1x revenue?
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