BusinessWeek is shuttering its Chicago-focused monthly edition, citing a lack of “traction” in the local marketplace.
The McGraw-Hill Cos.’ publication launched its Chicago edition in November, with a controlled circulation of 60,000. Because the Chicago edition was sent only to pre-vetted BusinessWeek subscribers, the magazine is making no special efforts to alert readers of the closure, or to replace Chicago issues with other products.
“We have discontinued this pilot publication so we can focus on our core, global BusinessWeek offerings,” said Carl Fischer, head of communications for BusinessWeek, in a statement. “We will continue to provide our audience with what they desire most – integrated products with a global focus and actionable insights. Our local bureau and sales office will remain in Chicago and our editors, reporters and sales staff will continue to serve the valuable Chicago market through our integrated BusinessWeek offerings, which include print, online, TV and events.”
The Chicago edition was intended as a test; had it succeeded, the company may have created more regional publications supported by local ad dollars. As it is, the BusinessWeek Chicago bureau has been reabsorbed by the main, global edition of the magazine and will continue to operate as a segment of the larger business. Only two positions were directly affected by the closure — one on the sales side and one on editorial.
The global edition of BusinessWeek claims a rate base of 900,000.