The Industry Standard Suspended
Standard Media International has today officially suspended publication of The Industry Standard, the weekly magazine that chronicled the dotcom boom.
The magazine that monitored internet stocks has itself become a victim of the dotcom downturn and will file for bankruptcy unless a last minute buyer can be found.
The Standard will continue to publish its website, The Standard.com and will retain a small editorial team, but most of its 180 employees will be made redundant.
The magazine’s editor in chief, Jonathan Weber, said: “This is a very sad day for everybody who has helped make The Industry Standard a great publication. We’re very proud of what we have accomplished, and we’re hopeful that the magazine and the website will find a new home.”
Launched only two years ago The Industry Standard enjoyed a period of rapid growth with the rise of the e-commerce industry, expanding its online and conference operations considerably. However the global downturn in advertising sales, which seriously damaged technology-orientated publications, led to The Standard‘s revenues falling significantly.
Standard Media had been in financial discussions with its board, including majority shareholder International Data Group, but after discussions broke down, it was forced to suspend publication of the title.
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