Summit Business Media, which filed for bankruptcy a year ago, has announced that it is closing Florida Underwriter, a 27-year-old magazine serving the Florida insurance industry.
The company says that digital uncertainty as well as Florida’s struggling economy were behind the closure, not the company’s financial status, Folio: reports. Before the closure, the magazine had 8,000 print subscribers.
“This was a business decision unrelated to anything related to a reorganization,” interim president and CEO Tom Flynn told Folio:. “It was to better serve this market and our customers.”
Though that sounds like a strange statement, Flynn also said that the company’s national titles are doing a fine job covering Florida.
The December 2011 issue, out now, will be the magazine’s last.