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BogMarkedet, the 156-year-old Danish book trade magazine, will close at the end of 2011 unless a buyer for the business emerges. It follows a decision made by current owners the Danish Publishers Association to pull out of what is a joint-venture with the Danish Association of Booksellers.
The magazine, which publishes a printed edition twice each month, and also runs a website bogmarkedet.dk, has been owned by the two associations for the past 35 years, with its board consisting of two members from each association. According to a statement issued by the BokMarkedet board the decision was taken "in light of the econcomic outlook" for the magazine.
Nils Bjervig, who has been editor in chief of the magazine for 10 years, said he was "surprised" by the decision, which has been under discussion since March. He said that it was based on the worry that the Danish PA might lose money. The magazine ran a deficit last year for the first time under his stewardship, but was otherwise stable with "solid cashflow", Bjervig said.
He told The Bookseller: "I am just now trying to keep the team together, but one journalist has already resigned because the prospect of either selling the paper, or closing it down, was not an attractive one." The magazine has a team of four, including Bjervig, and two journalists. Bjervig added that he was considering his own position "with myself and with my wife".
The statement sent out by the two trade associations, stated that they wanted to "help create the framework for an editorially independent publication, in print and/or electronic form that can describe, analyze and debate the legal, economic and cultural conditions of publishing and book trade". The statement said it would work to "establish such a new ownership" structure for the magazine.
But Bjervig confirmed that if no alternative structure was put in place before the end of 2011 then the magazine would close.
In the past six months both The Bookseller and US trade paper Publishers Weekly have been sold by their corporate owners to private investors.