Second UK trade mag closes

UK trade mag MI Pro is closing its print issue, just weeks after the closure of near rival Music Industry News.

Despite a heritage of more than 15 years in the trade, in which it had seen off a number of rivals, it has taken NewBay Media less than three years to close the MI industry trade magazine, with the June issue being the last one published. Announcing the news in a letter to readers just a week before its big MIRC retail event, the firm says it will continue with an online only offering. There was no word on whether the retail event will continue next year.

The decision and the timing of the announcement has puzzled some in the industry. It is thought NewBay is trimming the sails for an expected sell-off of the company later in the year.