Magazine publisher Associated Media Publishing will shut its business on May 1 after more than three decades in operation.

On Thursday, CEO Julia Raphaely announced that the company would cease trading and publishing its magazines, which include iconic magazine Cosmopolitan as well as House & Leisure and Women on Wheels.

The company was launched in 1982 by Jane Raphaely and in 2010, her daughter, Julia, took over the company. Julia Raphaely would manage the magazines as they competed with online media.

“The unexpected and devastating impact of Covid-19, causing the closure of printing and distribution channels, the global halt on advertising spend as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of personal funds having gone into AMP,” the company said in a statement.

“This is the most difficult decision I have ever had to make. For the last 38 years, AMP has been one of SA’s leading publishers and our titles have been part of many people’s lives. It's a big blow for magazine media brands in SA as they hold a special place in our country. We never thought this day would come, but we are left with no choice,” Julia Raphaely said.