Industry Standard U.K. Closing

Standard Media International is closing the United Kingdom edition of its Industry Standard magazine in light of the deteriorating advertising market, according to a person familiar with the situation.

Employees were notified about the shuttering Tuesday.

Standard Media, along with other publishers of magazines dedicated to writing about the New Economy, have struggled to adjust to the dramatic falloff in advertising from dot-com companies. In the U.S., Standard Media has already been through two rounds of layoffs and last year scuttled a spinoff after just a few issues.