NetGuide magazine shut down
Technology publisher CMP Media pulls the plug on print publication NetGuide magazine.
In the last two years, the magazine has offered news and feature stories on how to navigate the Web. But as personal computers and the Internet have gained in popularity, NetGuide's readers began to seek broader information than just Web surfing, CMP said.
Most of NetGuide magazine's editorial staff will be melded with the staff of Windows magazine.
The publication will be discontinued after its August issue. But CMP's struggling NetGuide online site will continue to operate with an enhanced channel-style editorial format and a guide to online events, in addition to offering a search engine.
The move follows a series of staff reductions at the online site, called NetGuide Live. That site cut its staff from 200 to about 30 in three rounds of layoffs.
CMP hopes that the closure of NetGuide magazine will improve its financial performance. The company filed for an initial public offering in May to raise up to $115 million.
CMP plans to use those funds to pay off debts. The company's credit line has been used to cover working capital requirements and pay dividends to CMP's current stockholders, according to the company's filing with the Securities and Exchange Commission.
CMP also announced its business computing and PC publications will all report to senior vice president and group publisher Jeffrey Strief, in an attempt to streamline its advertising efforts.
Under the new structure, Information Week, Communications Week, Network Computing, Windows magazine, and HomePC will coordinate circulation, research, pricing, editorial, and online service strategies.
A spokeswoman for CMP said she could not comment on the announcements because it is in a "quiet period," which is required by law before a company makes an initial public stock offering.