Publication of SmartMoney Halts

Due to a sharp drop in advertising in weekly business publications, Independent Media Sanoma Magazines publishing house has decided to halt publication of SmartMoney magazine.

Currently, IMSM is developing a concept for a monthly private investment magazine to run under the same name. If test marketing results are positive, the new magazine could be launched by the end of 2009.

The web site Smoney.ru continues to operate as a financial section of the Vedomosti.ru business portal. The Investors' Academy project - conferences dedicated to investment prospects - will also continue working at full-scale.