(Changes number of years in headline and first paragraph to
By Michael Perry
SYDNEY Jan 24 Australia's oldest news magazine
The Bulletin was axed on Thursday after 128 years -- a victim
of falling circulation.
The Bulletin published some of Australia's greatest
writers, such as Andrew "Banjo" Paterson who penned the iconic
Australian poem "The Man From Snowy River", and in its heyday
often broke news that shook the Australian political and
But the magazine, which ran an Australian edition of
Newsweek inside each weekly edition, sold only 57,039 issues in
September 2007, down from more than 100,000 in the mid-1990s.
Publisher ACP Magazines said The Bulletin's falling
circulation was consistent with that experienced by many
leading weekly news magazines globally and was symptomatic of
the impact of the Internet on the industry.
"This is a sad day for all of us at ACP Magazines," Scott
Lorson, chief executive officer of ACP Magazines, said in a
statement announcing that the latest edition, which went on
sale on Wednesday, was the last.
"The Bulletin has been an institution in Australian
publishing and has provided ... the best quality, in-depth news
and current affairs analysis in the country. The Bulletin has
often set the political agenda, broken many important stories
and won many awards for journalism over the years," Lorson
ACP Magazines is Australia's biggest magazine publisher,
with a stable of more than 85 titles, including The Australian
Women's Weekly, Woman's Day, Dolly, Cleo and Cosmopolitan. Its
Web site boasts that it sells three magazines every second.
The Bulletin was once the flagship news magazine of one of
Australia's major media moguls, the late Kerry Packer. But
Packer's son James hived off a controlling share of the
family's media business to private equity in late 2007.
Media analyst Harold Mitchell said The Bulletin failed to
modernise to compete with the Internet.
"Its a great shame that a way couldn't be found to keep
this part of Australia modern and a part of our lives," he
"Kerry Packer I am sure would not have axed The Bulletin.
He was an Australian through to the core. Now this is private
equity. Money speaks many languages, but mostly it's the bottom
The Bulletin's last edition ran a cover story "Why We Love
Australia", a survey of national values ahead of Australia Day
on Jan. 26, and articles about the Australian ethos by
acclaimed authors Tom Keneally, Frank Moorhouse and Richard
The survey found Australians still value "mateship and the
fair go" (friendship and being even-handed), despite being
richer due to a booming economy.
(Editing by Alex Richardson)