CMP Magazine Eliminates 200 Jobs
Yesterday, CMP Technology announced that it would eliminate 200 jobs and close or reduce the circulation on several print titles.
CMP, a trade magazine and online publisher, is making changes to restructure the company’s focus fully on face-to-face and digital media operations. SysAdmin will be absorbed by software magazine Dr. Dobb’s. Network Computing and Optimize will fold into InformationWeek. This move is based on growing online traffic which means increased online ads dollars.
In the past two years, CMP invested $146 million in online and tech initiatives and acquisitions, and less than half of the company’s revenue was brought in by print in 2006. This being said, InformationWeek, CMP’s primary publication, will be adding new features to their print publication as well as their online publication currently reaching an audience of over 440,000.
Two publications to reduce their print will be CRN and EE Times. CRN will now be put out twice a month instead of three times monthly, and EE Times, a weekly electrical engineering magazine will reduce circulation from 150,000 to 130,000.
CMP, a subsudiary of Britain’s United Business Media, provides inforamtion predominantly to IT professional and is one of the largest publishers of trade, technical and online publications in the world.
The company will continue to globalize its brand with the launch of new digital products and growth of online networks. This restructuring is yet another indication of the trend in the publishing world to increase online spending.
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