Official Xbox Magazine shut down due to decline in video game retail

The Official Xbox Magazine has sadly been shut down, with Future Publishing executives taking pay cuts to keep lay-offs to a minimum.

Although Microsoft insists that the upcoming Xbox Series X will still be released this year, the Official Xbox Magazine won’t be around to cover it.

Future Publishing has confirmed that it shut down the long-running magazine last week, with its last few staff all being let go.

Initially reported on by Eurogamer, Future cited that the decline in video game retail as the reason behind the decision, as it had impacted the magazine’s sales figures.

Official Xbox Magazine is one of six magazines that Future has closed, though it is apparently the only gaming related one among them.

A statement from Future added that, in order to keep lay-offs to a minimum, its executives have taken pay cuts.

‘Likemany organisations right now, we find ourselves being forced into makingdifficult decisions,’ it reads, obviously referring to the current coronaviruspandemic.

‘Wehave a duty of care to all our staff during this time and our focus is onprotecting the business for them and for our customers. We have introduced araft of measures to keep the numbers of lay-offs to an absolute minimum,including significant pay cuts for our Executive Team and Board.’

The Official Xbox Magazine first began publication in November 2001, alongside the launch of the original Xbox. Its closure follows that of Future’s Official Nintendo Magazine, which ended in 2014.

At the time of writing, the Official PlayStation Magazine is still running, but with the coronavirus dramatically affecting businesses and entire industries, there’s probably concerns surrounding it too.

Microsoft has yet to comment on the magazine’s closure.

https://youtube.com/watch?v=0tUqIHwHDEc%3Fversion%3D3%26rel%3D1%26fs%3D1%26autohide%3D2%26showsearch%3D0%26showinfo%3D1%26iv_load_policy%3D1%26wmode%3Dtransparent

Email [email protected]metro.co.uk, leave a comment below, and follow us on Twitter.

Source: Read Full Article