While Media24 has stated that the closure is due to a “variety of difficult economic conditions”, speculation mounts in the media corridors that the decision might be linked to Media24's current troubles, including its latest standoff with ABC on the Finweek circulation saga.
However, UpperCase Media (UCM) CEO Louis Eksteen told Bizcommunity.com that it was nothing but a Media24 investment decision.
Zoo Weekly was first launched in the UK by Emap plc early in 2004, and later successfully published in Spain and Australia.
The South African edition was then launched after two years of intense research to investigate what UCM called “the viability of publishing a men's lifestyle weekly”.
UCM publisher Kim Browne was quoted as saying prior to the Zoo launch in October 2006: “The level of marketing investment means the Zoo brand will be given all the necessary marketing support to ensure its success.”
But, with two years of research and a ‘high level of marketing investment' now gone down the drain, Zoo employees emerge as the first casualties of this failed media adventure, the real cause of which remains a mystery.
Eksteen said: “A total of 29 people were affected by the decision. Between 50% and 60% are already placed, but this percentage could go up.”
Asked whether the untimely closure could result in the media giant losing its credibility vis-à-vis its advertisers who might be wondering what is really going on, Eksteen replied: “As Zoo holds significant forward advertising bookings, all efforts are being made to accommodate these advertisers in FHM.”
Prior to its launch, it emerged that Zoo Weekly would fiercely compete against its rival Krew, another men's lifestyle magazine launched at the end of October 2006 by British publisher Tim Culley and edited by Gavin Williams of Crazy Monkey fame. Krew closed down just before it was about to put its fifth issue to bed.
UCM is a publishing partnership between Media24 and UK publishing Emap plc. The last issue (number 68) will hit the shelves tomorrow, Tuesday, 25 February 2008.
Both Eksteen and Browne are said to be deeply saddened by the loss of Zoo.
