Needham, Mass.—Technology media company TechTarget appears to be exiting the print magazine publishing business, according to documents filed Thursday with the Securities and Exchange Commission.
The filing said the company would cease to publish two magazines and, according to its Web site, TechTarget publishes only two magazines: Storage and Information Security. In the filing, TechTarget also said that it will reduce its total workforce by 76 full-time positions, a decrease of 12%.
The company also pointed out that it has hired 150 employees over the past two years. TechTarget’s share price, which closed at $5.00 on Wednesday, was trading at $4.60 early Friday.