Washington, D.C.—Hanley Wood CEO Frank Anton confirmed the construction industry media company is shuttering Building Products
and Big Builder
. The two magazines will cease publishing with their final scheduled issues this year. As a result of the closures, five positions were also eliminated.
Additionally, Anton confirmed that Hanley Wood will no longer develop eBuild.com, an online directory of building products. The site, however, will continue to appear online.
Earlier this year, Standard & Poor's Ratings Services downgraded Hanley Wood's corporate credit rating from CCC+ to CCC.