The Boston Phoenix announces it’s folding and this means 50 people will be out of their jobs.
Apparently it cost more than $1 million each year to keep the publication in business. The alt-weekly was founded in 1966 and is closing immediately. As in now.
Publisher Stephen Minich released a memo that was posted on JimRomenesko. Here’s an excerpt:
“I can state with certainty that this is the single most difficult communication I’ve ever had to deliver and there’s no other way to state it than straightforwardly –
As of now the Boston Phoenix has ceased publishing and wfnx.com will not continue as it is….
I cannot find the words to express how sad a moment this is for me, and I know, for you as well, so I won’t try….
And obviously as well, my sincere gratitude to our millions of readers and tens of thousands of advertisers without whom none of what we did accomplish could have been possible or meaningful.
So, that’s it. We have had an extraordinary run.”