IPC Closes Online Business

IPC has today announced that it is to close three internet sites and make 90 staff redundant, following a review of its online business.

Beme.com, unmissabletv.com and uploaded.com will all close as part IPC’s programme to rationalise its portfolio of internet brands. The company will now focus on six internet sites, which it believes will deliver strong commercial return and enhance the magazine brands they support.

IPC’s portfolio of online businesses will now consist of NME.com, countrylife.co.uk, horseandhound.co.uk, decanter.com, webuser.com and ybw.com.

Group strategy director, Julian Drinkall, said: “It is clear that the performance of our online activities has not met the original projections. We are therefore refocusing our digital strategy with full commitment behind those sites whose business models are sustainable and which reinforce major IPC brands.”

Chief executive of IPC Media, Sly Bailey, added: “The media landscape has changed considerably. Two years ago, investment and confidence levels in the internet were over inflated. Now the reality is very different and media organisations are adopting greater realism in their plans.”

Despite the closure of the online elements of unmissabletv and Loaded the core elements of the businesses will remain unchanged and IPC says it will consider their expansion onto other media platforms in the future.

The closures come less than a month after IPC Media was taken over by AOL Time Warner in a deal worth £1.15 bn (see AOL Buys IPC Media For £1.15bn).

IPC Media: 0870 4445000 www.ipc.co.uk

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