Modified Magazine Shuts Down
Yet another print publication in the automotive industry has shut its doors: Modified Magazine.
Jalopnik is reporting that Source Interlink, the parent company of Motor Trend and Hot Rod magazines has decided to shut down the magazine amid dwindling ad revenue and reduced circulation.
Modified mag features European and Japanese tuner content and was founded by Toronto-based company Verticalscope inc. before being sold to Source Interlink in 2008.
The company’s more popular publications have likely been generating enough revenue to keep the specialty mags in circulation, but ever-shrinking budgets have reduced content and put the magazine on the endangered species list. YouTube has also decided to cancel the money they were spending on Motor Trend’s large web-based channel, meaning it would cost Source Interlink more money if they wanted to keep the current level of content.
As many as one hundred people will be losing their jobs as the company restructures.
