Apparently, the Official Xbox Magazine (OXM) quietly closed down last week. According to a post on Eurogamer, the media publisher Future, shuttered OXM and five other magazines due to a decline in video game retail sales.
In a statement, Future indicated it was looking to keep layoffs at an “absolute minimum,” and the reason for the OXM closure and layoffs is not due to the coronavirus, just poor timing.
“Like many organizations right now, we find ourselves being forced into making difficult decisions. We have a duty of care to all our staff during this time and our focus is on protecting the business for them and for our customers. We have introduced a raft of measures to keep the numbers of lay-offs to an absolute minimum, including significant pay cuts for our Executive Team and Board. Whilst the decline in retail footfall impacts our magazine business, we are well placed with significant digital audiences and diversified revenues to continue delivering on our customers’ changing needs at this time.”
OXM started in November 2001 right around the time the original Xbox launch, with Future paying Microsoft a licensing fee to publish OXM online and in print. Overall, Future employs about 900 people in Bath, UK, and the layoffs will affect about 55 roles.
What will you miss most about OXM? Let us know in the comments.
