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Automotive News Europe, Business Insurance Europe, RCR Wireless News and financialweek.com Close Operations

Posted on: Thursday, 5 March 2009, 10:50 CST

DETROIT, March 5 /PRNewswire/ -- Business publisher Crain Communications Inc has begun the process of moving production for Automotive News Europe and Business Insurance Europe into their U.S.-based primary titles, Automotive News and Business Insurance. The two standalone European publications based in Munich and London will close. Both parent publications will now serve European readers with news, special issues, events and digital coverage through their global network.

"The worldwide economic crisis is causing everyone to make difficult, dramatic decisions," said Keith E. Crain, chairman, Crain Communications Inc. "In tough times, it is important to stay focused. We will continue to cover the European market aggressively through the resources of Business Insurance, Automotive News and Automobilwoche."

In addition, Crain has suspended production of RCR Wireless News. Located in Denver (Golden), RCR Wireless News first began publication in 1981. It was an integrated media platform enabling intelligence on all things wireless. RCR Wireless News had 50,000 print subscribers and more than 100,000 unique Web site visitors per month.

"Unfortunately, the market for the wireless industry has been hit particularly hard and we needed to direct our resources in other directions," said Crain.

Financial Week suspended publication as a print product in December. Since then, a small staff has continued to produce financialweek.com from Crain offices in New York. The news site was written for high-level financial executives in U.S. companies. The decision has been made to now also close the Web site.

Automotive News Europe was headquartered in Munich (Oberpfaffenhofen), Germany and written for the European automotive industry in English. The title was launched in 1996 and published biweekly for 19,000 subscribers. The 13th annual Automotive News Europe Congress will continue in Brussels in 2009 on 30 June and 1 July.

Based in London, Business Insurance Europe offered a product portfolio targeting the European risk management community. The biweekly pan-European newspaper and suite of digital products connected with Europe's commercial insurance, risk management and alternative risk financing professionals. Circulation was 14,913.

About Crain Communications Inc

Detroit-based Crain Communications Inc publishes more than 30 highly respected business-to-business newspapers, magazines and digital products including Automotive News, Automobilwoche, Advertising Age, Business Insurance, Pensions & Investments and regional city business publications in Chicago, New York, Cleveland, Detroit and Manchester (U.K.). Crain Communications has more than 1,000 employees in 16 offices worldwide. The company's Web site is www.crain.com.

SOURCE Crain Communications Inc

Source: PR Newswire

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