Publisher Robert Redfern sent out a memo to staffers this morning, announcing that The Business Press, an affiliated weekly publication, was being shut down. Interestingly, Redfern does not mention the layoffs in his memo:
As with others within our industry, we’ve had to take severe measures over the past several years in order to adjust our business to the economy and the marketplace changes. We continue to be very uncertain about what will happen with our local economy in this coming year, largely because we’ve continued to experience revenue challenges.
As a result, we’re being forced to make further adjustments in our business priorities. Some of these will impact The Business Press, which first published in September 1995 and has been part of our product portfolio for the past 16 years. Unfortunately, because of the economic downturn of the past three years, we’ve come to a point where we’re no longer in a financial position to continue publication. Consequently, June 6, 2011 will be the final weekly edition of The Business Press.
This means we are changing how and where The Business Press readers seek and consume B2B information each day. The business reporters of The Press-Enterprise will continue to cover the Inland Southern California business community, but now these B2B stories, analysis and in-depth perspective, along with blogs and calendars, will be appearing on PE.com and in the daily Business section.
This was a difficult decision to make in response to the current adverse business environment with which we in the newspaper industry continue to struggle. We understand that this current business climate can be difficult to deal with, and we thank you for your commitment to our Company.