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Centaur announces closure of Precision Marketing
18 February 2009
Precision Marketing, Centaur's monthly magazine for direct and digital marketing, is closing.
The subscription-based title, which cost from £75.90 a year, had a circulation of 7,501 up to July 2008, according to ABC.
Press Gazette understands that the closure has resulted in three job losses. It follows last month's announcement that Centaur's magazines Public Private Finance and Brand Strategy were "under review" and likely to close.
In a statement, Centaur said sister title Marketing Week would swallow Precision Marketing's coverage of direct marketing.
Marketing editor Mark Choueke - who was editor of Precision Marketing until last month - said: "Our aim at Marketing Week has always been to serve our readership of marketing managers and directors with relevant and insightful content. Now we want to crystallise that.
“In order to properly reflect the day-to-day responsibilities of our readers, you can expect to see far more in-depth coverage of direct marketing in Marketing Week, whether it be a look at the kind of innovation necessary to get ahead in the traditional direct mail market, the best ways to maximise use of the ever-increasing digital sphere or the capability of data suppliers to help our readers reach their target audiences better and therefore increase ROI [return on investment].”
Centaur's portfolio includes 10 weekly and fortnightly magazines, including and The Lawyer and Design Week.
The company made a pre-tax profit of £14.5m in 2007/08, from £90.4m revenue. Its share price – which was 75p in September – was 32.5p this morning.
