So London, the luxury magazine aimed at the capital’s high flyers, is folding today after just three issues. It is understood that the magazine has failed to secure enough advertising support to continue in the “current marketplace”.
A statement issued this morning says that there is no “long-term future” for the weekly magazine, which is about London property and “shameless” luxury.
The magazine was launched by Mike Ironside, the former Mail On Sunday managing director. The magazine’s editor is Christena Appleyard, a former Mail On Sunday journalist, and its commercial director is Mike Allen, previously of Mirror Group Newspapers and Associated Newspapers. It has an initial print run of 75,000 copies and had aimed to sell 70 pages of advertising each week and publish 50 issues a year.
The magazine is owned by Steve Rigby, the son of IT tycoon Sir Peter Rigby, and his wife Jenny. Peter Rigby founded IT company SCC, the 11th largest privately-owned company in Britain with a turnover of £2.1bn.