NEW YORK, Nov 29: AOL Time Warner Inc.’s Time Inc., citing an advertising slump, said on Thursday said it would shutter three magazines, On, Family Life and Hong Kong-based Asiaweek.
“Given the difficult advertising environment, we continued our review and made a determination on which magazines had the best long-term business prospects,” said Peter Costiglio, spokesman for Time Inc., the magazine publishing arm of AOL Time Warner. The December issues of Family Life and On, an online consumer technology magazine, will be the publications’ last, as will the current week’s issue of Asiaweek, he said.—Reuters
