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Summary:

Financial Week is possibly the worst publishing name to have right now: covering the battered financial industry on an oh-so-pointless weekl…

Financial Week is possibly the worst publishing name to have right now: covering the battered financial industry on an oh-so-pointless weekly cycle, in legacy print. So Crain’s, that curiously secretive family-held B2B media company, has decided to close the print version of FW, and will exist online only. The Dec. 7 issue is the last, the company announced. The website will continue, but no word about any layoffs as a result. More when we find out.

Meanwhile, Crain’s is probably looking hard at its portfolio of about 30 magazines in various B2B sectors, and in its “Advertising and Media” division, I can think of two out of the four that logically should be online only. Of course, its automotive trade division is probably hammered as well. Will the Crain brothers finally change their mind and start thinking about strategic options in the medium term?

  1. Elizabeth Smith Friday, December 12, 2008

    FW laid off around 40 ppl. And Crain's knows how to weather a storm — they have been around since the (first) depression!

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  2. It'll be interesting to see how things shake out with Crain Communications. Both flagship publications "Ad Age" and "Automotive News" are susceptible to market conditions.

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  3. Crain is a good, well capitalized company but it lacks vision. It has been in steady decline since the death Gertrude Crain, its long-time chairman, who presided over the company's greatest growth and success. Thanks to the Detroit focus that has plagued the company since Chicago-based Mrs. Crain left the company chairmanship, the Crain Communications of today is far too focused on smokestack industries in the high-tech era. It also refuses to invest meaningfully in repositioning the company. The Crain brothers, who presently run the company, are not a good team and the Crain titles are woefully in need of rejuvenation. Also, Crain has lost some of its very best executives and editors since Mrs. Crain died. That spells big trouble for any media company.
    Crain would be wise to sell itself.

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  4. Burn it all and start over with new ownership.

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