|Photo: Hoag Levins|
|In a statement today, CXO said, 'The marketplace is not of the size and scale to support ['CMO' magazine] in its present format.'
Michael Friedenberg, president-CEO, CXO, in a statement today said the magazine could not survive as is. “Although CMO received numerous awards and accolades, the marketplace is not of the size and scale to support the business in its present format,” he said. “We are currently exploring multiple options to continue the dialogue with readers and advertisers under a different business model.”
“As a result of these changes, CXO Media head count is being reduced by approximately 10%,” Mr. Friedenberg added. “These business and staffing decisions, while difficult, are necessary to allow CXO Media to focus on areas of growth and profitability, namely online, events and custom services for the CIO, CSO and CIO Executive Council product lines.” CIO is aimed at information executives, while CSO targets chief security officers.
CXO, part of the International Data Group, introduced the title in September 2004. It had an average circulation of 24,419 during the six months that ended June 2005, according to its first audit from BPA Worldwide, but those readers received the magazine free under its controlled-circulation model. Its rate card listed the cost of a full-page four-color ad at $10,800.
The most recent issue of CMO included ads from American Express Incentive Services, the Radio Advertising Bureau, "The News Hour with Jim Lehrer" and others. Business-to-business advertising has been a difficult category for many magazines over the past year.