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Crain Communications closes two European titles and FinancialWeek.com

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Detroit—Crain Communications Inc. announced Thursday that it has shut down Business Insurance Europe, Automotive News Europe and FinancialWeek.com.

“The worldwide economic crisis is causing everyone to make difficult, dramatic decisions,” Keith E. Crain, chairman of Crain Communications, said in a statement. “In tough times, it is important to stay focused. We will continue to cover the European market aggressively through the resources of Business Insurance, Automotive News and Automobilwoche.” Earlier this week, Crain Communications announced the closing of RCR Wireless News.

Crain Communications announced in December that it was closing the print version of Financial Week, but had kept producing the Web site.

Crain Communications publishes BtoB.

—Sean Callahan

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