Publication of Gloria Weekly Suspended

The Independent Media Sanoma Magazines publishing house decided to halt publication of the weekly magazine Gloria.

According to IMSM board of directors member Tatiana Shalygina, the glossy weekly has potential, but is a fairly expensive project that requires significant investment during this stage of its development.

"Gloria is still a young magazine," Shalygina said, "and to continue developing it on the same level would require additional funds that the company does not have during crisis conditions and a fairly unpredictable market situation."

"We are not willing to lower the quality of the product, therefore the decision was made to stop the project for an indefinite length of time."

The last regular issue of Gloria will go on sale February 19. The publishing house will give its business partners advance notice before resuming the project.