Editor’s note: It’s the latest in sad days for media and journalism as yet another news provider shutters operations, this time after more than four decades in business.
How many more farewells will we have to report? And can anyone challenge the educated guess that between layoffs, closings and media consolidation cuts, the unemployment rate for journalists is up to six times that of the rest of the economy?
Read on below the following excerpt from sacbee.com:
The August issue of Sacramento Magazine is its last. The monthly magazine has closed after 48 years of operation. The parent company of Sactown Magazine, a competitor, has bought the remaining assets of Sacramento Magazine from Sacramento Media. This acquisition by Metropolis Publishing included Sacramento Magazine’s subscription list, according to a news release issued by both magazines. As part of the purchase agreement, Sacramento Magazine subscribers will get copies of Sactown Magazine. The reason for the demise of Sacramento Magazine was not explained in the news release.
“As owners of Sacramento Magazine, we have taken a lot of pride in what this publication has accomplished,” Sacramento Media CEO Stefan Wanczyk stated. “We deeply appreciate the support of the community, our readers and the advertising partners over the last eight years.”
Prior to 1993, the magazine had been majority owned by Micromedia Affiliates of Morristown, New Jersey.
No purchase price was disclosed for Sacramento Magazine’s assets. Sacramento Magazine Publisher Dennis Rainey said in an email that the shutdown of the Sacramento magazine came as a surprise. He said staff was informed on July 21 that there would be no future issues. While national magazines have struggled for years in the changing media landscape that has also impacted newspapers and television stations, regional city magazines have been a bright spot, said Chicago-based magazine consultant Joe Berger.
Read more here.
