Las Vegas Life, a glossy lifestyle magazine published by Greenspun Media Group, will cease monthly publication after its April issue to become an annual "Best Of" magazine under the same umbrella name, Greenspun Media President Michael Carr stated in an e-mail to employees.
"This is a very painful decision for our company and for me personally," Carr said.
He cited economic issues such as housing prices and rising fuel costs that led to an evaluation of the magazine's business strategies and operations.
"While Las Vegas remains insulated from several of these issues, we are not immune," Carr said. "As a result, our company has been examining all cost areas of operations in an effort to preserve our future growth strategies and balance them with the realities of today's economics."
Calls to Greenspun executives for comments were not returned. Greenspun Media also publishes the Las Vegas Sun, Las Vegas Weekly, Vegas and H&D magazines.
Las Vegas Life recently underwent a change in format and was renamed LVL. The magazine was dedicated to providing "entertaining, informative and thought-provoking articles about the city for the people who live here," according to its Web site. "Each month the magazine strives not only to celebrate the world's most exciting city, but to give Las Vegans a stronger understanding of the community and how they can better their lives in Las Vegas."
Paula Yakubik, founder of MassMedia, a Las Vegas public relations firm, said she read the magazine monthly and enjoyed feature stories on local restaurants and "haunts" in Nevada.
"I just read a story about local education," she said. "I think there's just a lot of competition with these types of magazines and the competition was circulated better than Las Vegas Life. You had to pay for it at the stores or subscribe, whereas Luxury that you (Stephens Media) do is delivered straight to the house."
Annual subscription rate to Las Vegas Life is $14.95.
Other magazines along the lines of Las Vegas Life include Vegas, 944, Luxury, LVM and 215 South, a new publication catering to residents of the master-planned Summerlin community.
Another industry source who requested anonymity said LVL looked a little "slicker" and may have been perceived as direct competition to Vegas, which is also published by Greenspun Media.
As an advertiser, it will be interesting to see how the magazine is going to handle contracts that were signed for six months or a year, the source said.
Contact reporter Hubble Smith at email@example.com or (702) 383-0491.