Billionaire Philip Anschutz Shuts Down Weekly Standard Magazine

(Bloomberg) -- A key member of the “Never Trump” conservative media universe will soon be nevermore: The Weekly Standard is shutting down.

Clarity Media, a closely held Denver-based company controlled by billionaire Philip Anschutz, said on Friday that the 23-year-old magazine would publish its last issue on Dec. 17. Ryan McKibben, president and chief executive officer of Clarity Media, attributed the shutdown to the broader challenges battering print media.

While various conservative news outlets have prospered by backing President Donald Trump, the Weekly Standard frequently denounced the administration and its policies. William Kristol, the magazine’s co-founder, has been a particularly prominent critic of Trump.

Clarity explored the possibility of selling the magazine. But no buyer emerged, despite a recent trend of technology heavyweights snapping up legacy newspaper and magazine brands.

“The financial performance of the publication over the last five years -- with double-digit declines in its subscriber base all but one year since 2013 -- made it clear that a decision had to be made,” McKibben said in a statement.

To contact the reporter on this story: Felix Gillette in New York at fgillette@bloomberg.net

To contact the editors responsible for this story: Crayton Harrison at tharrison5@bloomberg.net, Nick Turner

©2018 Bloomberg L.P.