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SmartMoney to close print edition, boosting online
NEW YORK (AP) - SmartMoney's print magazine is ceasing publication and switching to an all-digital format aimed at online and tablet computer users.
Dow Jones & Co., a unit of News Corp., said 25 positions at SmartMoney will be eliminated. It will increase SmartMoney.com's staff from nine to 15 editorial employees.
Dow Jones editor-in-chief Robert Thomson said the move was inspired by "the need for rapid delivery of personal finance intelligence" at a time when financial markets are volatile.
SmartMoney's last print issue, the September edition, will hit newsstands on August 14.
SmartMoney was launched jointly between Dow Jones and Hearst Corporation in 1992. Dow Jones acquired Hearst's 50 percent interest in 2010.
Dow Jones said laid off employees will be able to re-apply for SmartMoney.com jobs and elsewhere in the company.
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