Life to become an online only magazine

Life to become an online only magazine

Time Inc. has announced that they are going to stop publishing the popular Life magazine. The magazine would now be made available as an online edition only.

Time said that the April 20 will be Life’s last print issue. The brand name would continue to live on the web.

With this Life has just become the latest victim of the popularity of the web as newspapers and magazine companies struggle to survive the falling readership.

Time Inc. Chief Executive Ann Moore said in a statement: “Growth requires taking risks, and the potential upside was huge, but unfortunately the timing worked against us. The market has moved dramatically since October 2004, and it is no longer appropriate to continue publication of Life as a newspaper supplement.”

The company further announced that they are laying off 15 editorial workers and 27 in its business department in connection with the shutdown. However, they are going to keep Managing Editor Bill Shapiro, Executive Editor Maggie Murphy, President Andy Blau and Publisher Peter Bauer.

In another interesting news, Time announced that they would make Life’s collection of 10 million images available online. These would be made available for free for personal use.