The Bulletin axed after 128 years

24Jan08

AUSTRALIA’S oldest news magazine, The Bulletin, has been closed after more than a century of publishing.

ACP
announced the closure of the magazine, launched in 1880, this morning,
saying it had become unsustainable with sales of just 57,000.

The
Bulletin has had a cloud over its future for a number of years but
failed bring circulation back to highs of over 100,000 enjoyed in the
mid-1990s.

Staff were told of closure this morning, with
between 15 and 20 positions being made redundant, although some staff
will be offered other roles at ACP.

The magazine’s final editor, John Lehman, said: “It’s an incredibly
sad day for The Bulletin team and our readers and it’s been an absolute
privilege to work for such a legendary masthead.”

Speculation has been rife that the magazine could continue in an online format, but that was rejected by executives.

ACP
magazine CEO Scott Lorson said the decision to close had become
inevitable, although it is believed there had also been attempts to
sell the masthead to another publisher.

"This is a sad day for all of us at ACP Magazines," Mr Lorson said.

"The
Bulletin has been an institution in Australian publishing and has
provided its loyal readers with the best quality, in-depth news and
current affairs analysis in the country.

"The Bulletin has often set the political agenda, broken many
important stories and won many awards for journalism over the years.

"We
have invested heavily in the title with top editorial, photographic and
design staff who have been devoted to making The Bulletin the best of
its genre.

"However, despite our best efforts, the magazine has simply not been
commercially viable for some time. With limited prospects for
improvement, the time has come to make a very tough decision."

ACP Magazines publishing spokesman Phil Scott said The Bulletin’s
editor-in-chief, John Lehmann, had done an outstanding job since
joining the magazine in mid-2006.

"John and his staff have maintained The Bulletin’s commitment to quality journalism and tackling the tough issues.

"Under his guidance it has won a Walkley Award and three Magazine Publishers Australia Awards."

Chief executive officer of PBL Media, Ian Law, said the decision to close The Bulletin had been made reluctantly.

"We all had a sense of pride in the title," he said in the ACP statement.

"John Lehmann and his editorial team produced a top quality publication and should be commended.

"But
the reality is that the publication has been running at a loss for a
number of years and we could see no prospect of this trend being
reversed."

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