Games media publisher Future shutting down outlets, laying off 170

Future, the publisher behind outlets such as Edge, GamesRadar, PC Gamer, and CVG, is going through some hard times. It will be shutting down some of its gaming websites and laying off a large number of staff.

The publisher's cuts come from an inability to turn a profit. According to Gamasutra, the company reported pre-tax losses of £30.6 million for the current fiscal year. This isn't the first time this year that Future has cut staff. In fact, earlier this month, Future brought cuts down and was consolidating its marketing and business team. Much of Future's U.S. editorial staff was laid off and much of the company's business was taken into the publisher's UK office.

Future is planning on closing down CVG, Edge Online, and the website portion of the Official PlayStation, Official Xbox, and Official Nintendo magazines.

"The streamlining of our consumer strategy -- with an increased focus on the consumer technology market and a clear channel-neutral approach -- allows for a simplification and standardisation of our digital advertising platforms and opportunities," said CEO Zillah Byng-Maddick. "Our revised business model is based on the virtuous circle of engagement in two core content areas: reviews (when consumers are looking to make product purchase decisions and where we can derive ecommerce revenues) and 'how to' opportunities (when consumers want to learn more and are prepared to pay us to help them do so, through tutorials, events etc)."

Thanks, Gamasutra