MEDIA-I: Internet World shuts after first issue

<p>HONG KONG: Penton Media has suspended publication of Internet World </p><p>after printing just one issue, citing a slowdown in the technology </p><p>market and a difficult advertising climate. The title, 10 months in the </p><p>planning, was launched in June. </p><p><BR><BR> </p><p>However, with a slowdown in the technology market, Penton Media managing </p><p>director for Asia-Pacific, Michael Westcott, explained that the magazine </p><p>was unable to secure sufficient advertising for its launch. </p><p><BR><BR> </p><p>"We had plans to put the magazine out in June and it is clear now that </p><p>there is recessionary pressure on the media and technology market, and </p><p>it is certainly clear that Asia is not immune to it. </p><p><BR><BR> </p><p>"Based on our knowledge of the market in Asia, we decided to suspend the </p><p>Asian edition of Internet World for the time being, to refocus our </p><p>efforts on other more lucrative businesses," said Westcott. </p><p><BR><BR> </p><p>Four employees were let go following the closure, while others were to </p><p>be "reallocated". </p><p><BR><BR> </p><p>"Tech vendors are hurting for sales, and they are opting to go to </p><p>channel-based titles to boost direct sales. They are also still putting </p><p>money into events. </p><p><BR><BR> </p><p>"They are not focusing their spending on branding, but are more into </p><p>procuring sales and making marketing gains," said Wescott. </p><p><BR><BR> </p><p>Penton Media, which will continue to focus its resources on events </p><p>following the closure, plans to launch an Asian title for the regional </p><p>"new enterprise market" in the near future, Westcott added. </p><p><BR><BR> </p><p>"Through our other publications and database work, as well as events, we </p><p>can take a targeted approach to enterprise buyers. </p><p><BR><BR> </p><p>"We have a diversified media offering and a diverse portfolio, which </p><p>really is an advantage for us. </p><p><BR><BR> </p><p>"We believe that the closure won't have a major impact on our business </p><p>here, but will rather be a matter of reallocating resources. If </p><p>something doesn't work, we believe in getting out," Westcott said. </p><p><BR><BR> </p><p>Penton Media publishes 11 titles across the Asia-Pacific region, and a </p><p>total of 62 titles worldwide. </p><p><BR><BR> </p>