Artnet Magazine shutting down due to financial difficulties

Artnet Magazine, a widely read online publication devoted to the visual-art market, is shutting down due to financial difficulties. The magazine’s editor said in a email statement Monday that “during its 16 years of digital life, the magazine was never able to pay its own way.”

The magazine existed as part of Artnet, a comprehensive visual-arts site that offers auctions, a pricing database and analytic reports on the art market. Monday’s news comes on the heels of the announcement that Hans Neuendorf, the chief executive of Artnet, has stepped down from his post, handing control of the company to his son, Jacob Pabst.

It remains unclear if the shutdown of Artnet Magazine was a direct result of the leadership transition at Artnet.

Walter Robinson, the magazine’s editor, said in an email to contributors that the magazine won’t be posting new material after Monday. (Robinson did not immediately respond to a request for comment.) The magazine published reported stories, commentary and reviews, all geared generally toward the buying and selling of art.

The French- and German-language versions of Artnet Magazine are also being closed, Robinson said in his e-mail.

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