Fashion magazine Madison will stop printing after its June edition this year.
Bauer Media said the last edition would be released on May 15 and the website would be decommissioned on June 18.
Less than one month ago Bauer said it was “business as usual” for Madison following rumours that it was to close in the run-up to the launch of Elle later this year.
Bauer Media CEO Matthew Stanton said:
“The decision to close a title is never easy, but after recent and lengthy discussions with our joint venture partner, Hearst Magazines International, the conclusion was sadly drawn that for Madison to continue was no longer a commercially viable option,” he said.
“I would like to express my respect for the Madison team for the way in which they continued to deliver a wonderful product while rumours of closure swirled around them. They should be proud of their professional and committed effort.”
A Bauer spokeswoman said mixed martial arts magazine UFC had also closed recently because it was “not commercially viable.” confirming the The Australian’s report on Monday that the magazine – launched with a great deal of fanfare in 2010 – had been quietly axed.
She said staff working on the magazine were told of the closure this morning and Bauer would be “working through” the personelle in the coming weeks.