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LONDON -- San Francisco-based publisher Standard Media International has announced it is folding the European version of its flagship Internet economy news magazine, The Industry Standard, which launched last October.

The decision comes the week after the London-based publication, which claimed to be close to achieving its target circulation rate base of 30,000, announced it was looking for equity partners.

The official closing of the magazine will be April 13. The Web edition, however, will continue to operate, and an editorial bureau will remain in London, confirmed Neil Thackray, CEO of Standard Media Europe. No details were available as to the number of staff that will be retained.

With the closure of the Europe edition, the U.S. version, majority-owned by the Boston-based International Data Group (IDG), plans to boost its coverage of international news and business affairs and "will extend its circulation into Europe," Thackray said.

At the same time, IDG, in association with Taiwan-based InfoPro Group, has launched a Taiwanese edition of The Industry Standard called New Economy. Advertisers in the debut issues include IBM Corp., Microsoft Corp., Intel Corp., Compaq Computer Co., Epson and Trend.

New Economy has an initial circulation of 22,000 copies and a companion Web site, which features local technology news, interviews with top Internet business executives, new product launches and information about Taiwan's technology market, which is expected to grow from $4.6 billion in 2000 to $6.8 billion in 2004, according to IDC.

The new weekly magazine brings the total number of IDG titles published by InfoPro in Taiwan to five, including Computerworld/Infoworld Taiwan and PC World Taiwan.

IDG first launched The Industry Standard in the U.S. in April 1998. Now it is published in print and online in Australia, Brazil, Korea, Norway, Poland, Sweden, Switzerland and, most recently, China. -- Ali Qassim and Normandy Madden

Copyright April 2001, Crain Communications Inc.

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