Time ends print version of Teen People

NEW YORK, July 26 (UPI) -- Time Inc. of New York is ending print publication of Teen People, one of the first major magazines to be launched simultaneously in print and on the Web.

At the same time, the Internet version of Teen People will receive a fresh infusion of capital, the Financial Times said Wednesday.

Dropping the print version of Teen People will affect about 50 employees, though Time says it will try to find jobs for those workers.

Time launched Teen People in 1998 as an extension of People, the world's most profitable magazine. Its initial circulation of 500,000 more than tripled to 1.6 million in 2001 but has since slipped to 1.45 million.