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The Industry Standard, one of the magazines that was created to chronicle the rise of the Internet economy, has itself become a victim of the dot-com bust.
Standard Media International, the magazine's San Francisco-based publisher, sent an internal memo to employees yesterday announcing that it was suspending publication and laying off most of its 180 workers. A skeleton crew of about 20 people, including a small editorial staff to maintain the magazine's Web site, will remain while Standard Media looks for a buyer.
In addition, Standard Media said it will most likely file for Chapter 11 bankruptcy protection. In the memo, Standard Media said one of the factors leading to the print publication's demise was a significant drop in revenue from the $140 million level it reached last year, as advertising sales dwindled because of the souring economy and the collapse of numerous Web ventures.
The Industry Standard is majority-owned by International Data Group, which is the parent company of Computerworld. Under a reciprocal agreement between the two publications, content from The Industry Standard was sometimes used on the Computerworld Web site and vice versa.
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