Free mag Sport closes
Free weekly magazine Sport is to close unless a buyer can be found following the collapse of French parent company Sport Media & Strategie.
The last issue of the men’s London title, distributed by vendors in London, hit the streets over a week ago on April 3rd. Marketing Week understands talks with various parties have been held over recent weeks but no firm offers have yet to be received.
The UK title launched in September 2006 and has published 114 issues. It currently employs 24 staff.
Greg Miall, Managing Director, said: “Although the magazine is tremendously popular with readers, especially the AB demographic, over the last few months we have seen several clients close down and others cut advertising spend dramatically.
“Sport was ahead of its business plan last summer, but no-one launches a company with a business plan that includes the worst recession for 80 years. Ours certainly did not and, faced with financial Armageddon, we simply cannot sustain our current operations as an independent company. As such we have decided to suspend publication whilst we consider future options for the business.
