Manhasset, N.Y.--In yet another sign of the increasing struggles facing technology publishers, CMP Media L.L.C. said Tuesday that it was closing Tele.com.
The struggling economy and advertising market were cited as the reasons for the closing. Alix Raine, a CMP spokeswoman, would not comment on how many employees were laid off as a result of the shutdown. Whatever the figure, the job losses are on top of two rounds of layoffs at CMP in January and September. Tele.com,
which launched in April 1996, had a circulation of 79,000 and ran 22 times a year. Steve Schneiderman, senior VP of CMP Media, said that despite an executive-level circulation, "there just isn't enough anticipated growth in advertising revenue to support its continued publication." Analysts said that in the current climate technology publishers would have to continue to prune their portfolios. CMP "has to get rid of low-margin titles and move the revenue over to their core titles" such as Information Week, said Hal Greenberg, managing director for media investment banking firm Veronis Suhler & Associates L.L.C. For most publications tied to the dot-com boom, "there's no more advertising base," Greenberg said, adding that he expects even more of a shakeout among both CMP and Ziff Davis Media Inc. titles.