OLD Media Moves

Fortune Small Business closes

November 4, 2009

Jeff Bercovici of DailyFinance.com confirms that Fortune Small Business is suspending publication.

Bercovici reports, “The news comes just as the publisher embarks on a fresh round of job cuts aimed at saving $100 million in costs. Between 400 and 500 jobs will be eliminated, according to The New York Times, only a year after the company shed 600 workers.

“But the closure of FSB will only eliminate one job, thanks to its publishing model. Though it falls under the Fortune brand, FSB is owned by American Express Co.’s American Express Publishing and produced by Time Inc. Content Solutions, its custom-publishing division. Most of the writers and editors who work on FSB also work on other titles, and so will get to keep their jobs.

“FSB was published 10 times a year and distributed free to 1 million American Express cardholders. Ad pages in FSB were down 14.1 percent year-to-date through September, according to the Publishers Information Bureau.”

Read more here.

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