An owner with a billion pound fortune, it seems, is no security for the media during these times of financial downturn. Even for the leading environmental monthly, the Ecologist. The magazine will cease print publication from June 19. The UK-based Goldsmith family's flagship publication will only have an online edition. According to the online edition of The Times, the Ecologist has been struggling to stem annual losses that were running at 250,000 before the downturn struck.
The magazine's press release, however, did not make any association with the financial crisis. "The decision was under consideration for the past two and half years, long before the banks went belly up. We have never been guided by profit motives", it noted.
According to the magazine's spokesperson, "The switchover will lead to a substantial reduction in Ecologist's carbon footprint." He said that an online publication will be in "keeping with the zeitgeist of the digital age". There are also plans to upload 40 years of Ecologist editions online.
The magazine's spokesperson said, "Relaunching online will enable the Ecologist to react faster to what is now a global and daily debate on how best to preserve the world. It is an exciting development which will also enable our readers to have a constant place at the ecological forum. Moving online is also a prospect which current and new advertisers will embrace."
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