Video Business Magazine closes

Today, Reed Business Information announced that it had shut down Video Business Magazine, effective immediately. Both the print magazine and the website were shut down. They were apparently victims of the recession, the decline in DVD sales, and the long-term closure of thousands of independent video rental stores, all of which resulted in lower advertising revenues.

Given that Video Business was one of two remaining magazines focusing on the home video industry in the U.S., the outlook for independent coverage of the industry isn't good. Also, speculation is high that Variety, Reed's flagship entertainment publication and newspaper, is either already on the block or soon will be for sale.