Folio is reporting that Doubledown Media, the publisher of magazines aimed at the “working, wealthy men” of Wall St. including Trader Monthly, Dealmaker, Private Air, and Corporate Leader, has shut down. According to the memo sent out by Randall Lane to staffers,
I cannot begin to convey how heartbroken we are. These are unprecedented times: the combination of the media depression, the Wall Street implosion and the credit slowdown were collectively too much for our company probably any company in our shoes to overcome.
Doubledown, which had expanded operations to Dubai last fall, has been struggling of late having laid off a third of its staff, and cutting the frequency of some of its titles. The shutdown is perhaps not a total shock considering the times, and the audience Doubledown was aiming for but still, one wonders who will be left standing at the end of this year.