BtoB

CMP seeks growth amid ad downturn

Under pressure

By Published on .

Reprints Reprints

As one of the three biggest tech publishers in the U.S., CMP is feeling the heat from cooling IT spending. It recently laid off 33 people from its Web site, TechWeb.com. A CMP spokeswoman said there were additional cuts in the company's technology solutions group, but she would not specify the number.

Through February, CMP's ad pages were up 18%, compared with declines of 38% for Ziff Davis Media Inc. and 29% for International Data Group. And CMP's ad pages for the entire first quarter were down only 2%, while Ziff's fell nearly 36% and IDG's dropped 32%.

Yet, ad pages for the company's franchise title, Internet Week, were down 23% in the first quarter, compared with a year earlier. The magazine boosted its circulation from 400,000 to 440,000 in December and is in the process of building its editorial, sales and marketing departments.

"We've been hit by a common malaise, but we've stood up pretty well in market share," Marshall said.

Reed Phillips III, a managing partner at New York-based media investment banking company DeSilva & Phillips Inc., said he believes United is intent on developing a long-term strategy for CMP, but he added: "I wouldn't be surprised if there's something they want to shut down or sell off. It's what companies usually do a year after an acquisition."

In this article:
Most Popular