KP Media closes two start-up magazines

KP Media (KPME) closed two start-up magazines Vona and Pani, according to the letter that the company’s CEO, Jed Sunden released to KP Media’s employees on December 10. Pani and Vona, both published in Ukrainian, were consumer-oriented women’s magazines, launched in 2007. According to Sunden, closedown was caused by decline of advertising market expected in 2009 and depreciation of the hryvnya, which increased cost of printing.