InvestmentNews, a U.S. publication serving financial advisors, has laid off 15 people prior to closing of its sale by Bonhill Group to Australia-based Key Media. 

Included were Editor in Chief Paul Curcio and personnel in sales support, event support and contract publishing, according to RIABiz.

Some contractors may have also been let go.

Susan Kelly, managing editor, will assume the top editor’s duties, RIABiz reports.

The publication apparently faced a difficult environment, given the need for investment in systems and post-COVID turnaround challenges.

The sale to Key Media, reportedly worth $4.1 million, closed on Tuesday, RIABiz adds.

Key Media has an estimated 300 employees.