Jonathan Steinberg, the chief executive of the Individual Investor Group, said yesterday that he would shut Individual Investor magazine and lay off 90 percent of the company's staff, or about 50 employees.
Mr. Steinberg, the son of 1980's corporate raider Saul Steinberg, said that the magazine marketplace was too depressed to keep his finance magazine afloat.
The company said it would now focus on its stock-licensing operations and Web sites. Its list of 430,000 subscribers was sold yesterday to Kiplinger's Washington Editors, publisher of Kiplinger's Personal Finance.
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