Rave Off: Brisbane Streetpress Ceases Publication
News posted Tuesday, June 26 2012 at 06:00 PM.
Related: Streetpress, Rave.
The publisher of Brisbane streetpress Rave Magazine (not actually a rave magazine) has called time on the long-running publication.
In a statement published today (June 26), Colin Rankin said the magazine had ceased publication after 21 years and 1047 issues. He said its current staff of five will be paid their full entitlements.
“Rave Magazine has now ceased publication of the weekly print edition of its magazines,” the statement read. “Currently our financial advisors are investigating options with regard to the sale of the magazine and its associated digital assets…
"I would like to thank our dedicated staff and contributors for all their hard work and unwavering commitment to the magazine over these many years. They all have very much to be proud of.”
But speaking to the brisbanetimes.com.au today, Rankin didn’t rule out an 11-hour reprieve. "The phones have been running hot this afternoon so if something suitable can be worked out there could be a reprieve of sorts," he said. "But I can't say whether that will happen or not at this stage."
Rankin blamed a decline in print advertising revenue for the closure. “In the case of streetpress the advertising has collapsed incredibly in the last 12 months,” he said. “It's like a lot of print media problems these days, as evidenced by the Fairfax and News [Limited] announcements last week.”
Today’s final issue featured Swedish garage-rock act The Hives on the cover.