Future Publishing is closing down the one of the oldest games media publications, ''CVG" (Computers and Video Games), following a six month stay of execution, MCV reports.
The media conglomerate has shut down a numerous publications since earlier this year as it sought to make wholesale modifications across the brand. "CVG" appeared to be saved from the ax in June, with its writing team spanning the U.K., U.S., and Australia reduced to three.
At the time, Future verified its plans to review the publication's outlook by the end of the year. The company said it reevaluated its plans to shutter "CVG" earlier in the year following industry support after the news first broke and that a number of media brands came sniffing around to see if they could acquire "CVG."
Reports that the company was facing closure first surfaced in Spring. Future CEO Zillah Byng-Maddick purportedly emailed staff explaining that the company's current business model wasn't "working hard enough," and that it needed to "change and fast."
Members of Future UK were then put on a "45-day consultation period," while vast changes were expected across several of the company's websites. The company staffed around 900 and includes game publications such as "Edge," "Gamesmaster," "Official Nintendo," "Official Xbox," and "Official PlayStation."
Last month, Future reported a £30.6 million ($50.4M) loss for the first half of this year. It announced 170 job cuts and a deal to sell off some of its titles. Its games operations currently in London are due to be relocated to lower-rent headquarters in Bath, England.
