Individual Investor Magazine Ceases Publication
Posted on July 10, 2001Individual Investor Group, Inc. has ceased publication of Individual Investor Magazine and laid off 90% of its staff. The company has sold the subscriber list of Individual Investor magazine to The Kiplinger Washington Editors and agreed not to publish a print periodical under the Individual Investor name for five years. The company retains all of its other assets, including its America's Fastest Growing Companies family of stock indexes, its online operations, its trademarks and its equity investments.
The company now intends to focus on its stock index licensing operations and the low-cost maintenance of its online operations, which include individualinvestor.com and ShortInterest.com. These online operations generated approximately 18 million page views during the second quarter and have more than 200,000 registered users.
Individual Investor Group CEO Jonathan Steinberg says, "As has been widely reported, for the past few quarters the magazine industry in general -- and the business and finance titles in particular -- have been suffering a severe decline in advertising revenue and lower newsstand sales. In this harsh environment, the company simply did not have the resources to continue publishing Individual Investor magazine."
Steinberg also says, "Discontinuing publication of the magazine and terminating most of our employees was a painful decision. I could not be more proud of the achievements our employees made month after month in fulfilling the magazine's editorial mission of bringing actionable, unbiased investment recommendations to the individual investor. I wish our former employees every success,'' Steinberg added.
Individual Investor Group, Inc. is a financial media company. The company's properties include individualinvestor.com, ShortInterest.com and Individual Investor's Special Situations Report newsletter. The company also owns the intellectual property to the family of America's Fastest Growing Companies indexes.