Just in from Condé Nast HQ:
FOR IMMEDIATE RELEASE
March 27, 2006
Condé Nast to Close Cargo Magazine
Cargo magazine will cease publication with its May issue, it was announced today by Charles H. Townsend, President & CEO of Condé Nast Publications.
“This was a difficult decision.” Mr. Townsend said. “Although initial readership and advertising response were encouraging, we now believe the market will not support our business expectations.”
Cargo was launched in March of 2004 with a ratebase of 300,000. The magazine’s current ratebase is 400,000.
Subscribers to Cargo will receive GQ magazine for the remainder of their subscriptions.
We’ll leave the “Demise of the Mag-a-log” commentary to others … for now. We’re too busy reading Complex.