After 20 years, it’s the end of the line for SmartMoney as a print publication. The Dow Jones and Co. personal finance magazine will now focus its energy on being a stand-alone website within the MarketWatch family.
Reports say the 25 print staffers, including editor-in-chief Jonathan Dahl, will not transition to the online version. The employees would have to reapply for open positions at smartmoney.com. Nine digital positions are expected to be created at the site within Dow Jones.
Dahl told wwd.com yesterday, “I don’t think people were surprised. It’s been a tough market for a while. But it’s always a shock.”
Even though Dow Jones kept SmartMoney afloat with a hefty investment in the past two years, the closing was not a surprise to insiders. WWD reports that there was a drop off of advertisers since the financial crash, and an early proponent supporter, Dow Jones president Todd Larsen, stepped down earlier this week.
SmartMoney ’s September issue, its last, hits newsstands August 14.