Masthead closure has major implications for the Canadian magazine industry

The word today that Canada's magazine about magazines, Masthead, is closing after 21 years (see post below) is lamentable news. The magazine, which started out in print and was an early adopter of the web, has striven over those years to find a viable business model, from print subs, to pay-wall website, to free web access, but apparently without success. [Disclosure: I have for some time been a