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Pace magazine closes down
"The magazine market is seriously overtraded and to survive, a magazine has to be in touch with its readers. Black readers can now choose from a large number of multi-cultural magazines - race specific magazines no longer have direct appeal to the more sophisticated, upward mobile reader."
Dwindling circulation and losses finally left Caxtons with no real alternative but to stop producing the magazine - the July edition being the last.
"History has proved time and time again, that most magazines have a limited lifestyle and need to re-invent/relaunch themselves in order to remain significant in the market place. One only has to think back to the days when titles such as 'Outspan' (which morphed into 'Personality') and 'Scope' dominated their markets. Whoever imagined at the time, that these giants would simply disappear," said Mould.