NEW YORK — Inside Media, a biweekly trade magazine, was shuttered Wednesday by Cowles Business Media, which sold the subscription list to a rival publisher.
Inside Media, which began publishing in 1989 and was aimed at a core readership of ad-agency media departments, had a circulation of 20,000, mostly unpaid. But consolidation in the ad market, declining ad pages and growing competition doomed the magazine, which laid off its staff of 13. While profitable, the mag “did not meet the company’s growth and earnings targets,” said Cowles prexy Dan McCarthy in a staff memo, concluding that “continued investment did not promise any improvement for the foreseeable future.” The title was said to generate revenues of $3 million.
ASM Communications, a unit of BPI Communications, has purchased Inside Media’s paid circulation list, said to total about 3,000 subscribers, and will fulfill those subscriptions with copies of Mediaweek, a newer and more broadly targeted publication with a circulation of roughly 18,000. Cowles, based in Stamford, Conn., retains other magazines, including Cable World.