Time Inc. has shut down Life magazine for the third time, citing the ‘decline in the newspaper business’ and ‘poor advertising outlook’ as factors in its decision.
Time Inc. is a unit of the media conglomerate Time Warner Inc. and a major magazine publisher with titles including People, Sports Illustrated, Time and Fortune. The company said that it will keep the brand alive on the internet. Time Inc.’s CEO Ann Moore said:
The market has moved dramatically since October 2004 and it is no longer appropriate to continue publication of Life as a newspaper supplement.
Life started its journey as a light-entertainment weekly which ran successfuly for 83 years before it was bought by Henry Luce of Time Inc. and transformed into a news picture magazine. The re-decorated magazine was launched in 1936 as a weekly and was suspended from regular publication in 1972 and brought back as a monthly in 1978. It was suspended again in 2000, then brought back as a newspaper supplement in 2004.
Time Inc. is looking forward to follow its reader base and advertisers on the internet and last year it had sold off some of its small magazines which include Popular Science, Field & Stream and Parenting.
But as life goes on, lets hope that Life magazine gets rejuvenated for the fourth time.
