Bloomberg Markets Cuts Publishing Frequency [Updated]

It's pretty much the end.

-1x-1Bloomberg Markets is reducing its publishing frequency from monthly to just six issues per year.

According to Talking Biz News, there will be two more issues this year, and then Markets will be relaunched in 2016 as a promotional magazine.

Veteran Markets editor Ron Henkoff will complete the final two issues and then depart Bloomberg. Bloomberg editors Joel Weber, Stryker McGuire and Jon Asmundsson will work on the revamped Markets.

As part of the changes, about 12 staffers might be out of a job by the end of the year. Bloomberg is supposedly trying to find them roles elsewhere within the company.

Update (10:24 am):
Below is Bloomberg editor John Micklethwait’s memo explaining the changes.

In my conversations with many of you since August, I have tried to explain two things: first that the main bout of editorial-wide restructuring is now done; but that secondly we would continue to look at ways to improve individual products.

Earlier today, Reto and I spoke to the American based staff at Bloomberg Markets magazine, and said we would relaunch the brand in 2016. We will publish two more issues of Bloomberg Markets in its current form this year. We have asked Joel Weber, Stryker McGuire and Jon Asmundsson to work on a prototype and prepare the launch of a new magazine next year. We have not settled yet on the exact design, but our aim will be to draw on the full strength of Bloomberg’s markets and financial coverage – on the terminal, our expanded Bloomberg Markets TV show, a new website optimized for mobile, and podcasts. We plan to reduce the frequency of the magazine and make each issue richer in content. The relaunch of the magazine also means that several jobs at the magazine will no longer exist in the new year. For those employees who are affected, we are helping them find other positions within the company. Our hope is that most of the journalists at Markets will transfer to other jobs in Editorial by the end of the year.

Ron Henkoff, who has been the editor of the magazine since 1999, plans to leave Bloomberg at the end of this year after editing the remaining two issues of Markets. The magazine’s success over the years is a testament to Ron, who joined Bloomberg from Newsweek in 1998 as global features editor. Under his leadership, the magazine won more than 150 journalism awards, including the Polk, OPC and Foreign Press Association awards. In 2006, he won the Minard award, given annually to an outstanding editor by the Loeb Awards. We wish him the best.