Graphic Arts Monthly Folds
Reed Business Information (RBI), a division of Reed-Elsevier, which has been searching since last summer for a buyer of many of its business-to-business publications, announced through an internal memo last week that it is folding 23 of those books, including Graphic Arts Monthly (GAM), Converting magazine and the Graphic Arts Blue Book. GAM, which competed directly with IPG's sister publication Printing Impressions, had been published for 82 years.
RBI CEO Keith Jones informed employees of the decision through an internal memo obtained by Mediabistro. RBI had sold 21 titles, but was unable to move the remaining 23 it had targeted for divestment.
In an e-mail to subscribers, GAM staff explained: "Our parent company, Reed Elsevier, announced in July of 2009 its intentions to substantially exit its Reed Business Information U.S. publishing business, while retaining other businesses. Over the past several months, multiple publishing brands have been divested. On April 16, 2010, we announced the closure of the remaining publishing brands and their associated products and services. Consequently, the April 2010 issue was the final issue of Graphic Arts Monthly magazine, and our Web sites will cease operating as of April 30, 2010."
"These publications have had very experienced, professional and committed teams running them in the most difficult of circumstances," Jones wrote. "However, their trading performances have been under pressure for some time and the impact of the recession and media migration in the markets for these titles is such that we cannot see our way back to profitable growth."