Kennedy's George to close

Media analysts say the magazine needed Mr Kennedy

George, the political magazine founded by the late John F Kennedy Junior, will cease publication in March, the publisher has announced.

The magazine, which has a circulation of 500,000, could not pull in enough advertising, despite a 25% increase in circulation over the past year, said the French owners, Hachette Filipacchi Magazines.

John Kennedy - son of former US president John F Kennedy - was killed in July 1999 when the light plane he was flying crashed into the Atlantic ocean, close to Martha's Vineyard.

The magazine was believed to be close to folding in the months following his death, but there was an expected surge in sales.

'Unavoidable'

A slowdown in advertising growth finally led to the announcement on Thursday that the magazine - founded in 1995 - would have to close.

"The recent softening of the advertising market has only compounded George's situation," Hachette's Chief Executive Jack Kliger said in a statement.

"The likelihood that George's prospects will improve in this environment has become remote.

"I deeply regret this decision but it is unavoidable."

About 40 staff members will be affected by the shutdown. They will be offered severance packages if other positions within the company cannot be found.

US media giants like Time Warner Inc. and News Corp are also expecting a softer advertising marker.

Hachette Filipacchi Magazines, part of the French conglomerate Lagardere, bought the magazine in November 1999, but it failed to shape its new identity without Mr Kennedy, according to media analysts.