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23 Aug 2001
AOL Time Warner has canned three IPC websites with the loss of 90 staff.
AOL has scrapped uploaded.com, beme.com and unmissabletv.com, but has kept six other magazine websites including nme.com.
The firm, which bought IPC in July, said that a failure to meet revenue targets and a lack of investor confidence in the digital publishing sector had forced it to rationalise its online portfolio.
Julian Drinkall, group strategy director at IPC, said: "It is clear that the performance of some of our online activities has not met the original projections. We are therefore refocusing our digital strategy."
Sly Bailey, chief executive at IPC, added: "Media organisations are adopting greater commercial realism in their forward plans. This review has clearly identified where the commercial and strategic opportunities lie for our business."
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