Pro Football Weekly is out of business, publisher Hub Arkush wrote on the company's website Tuesday.
In a farewell to readers of what he long referred to as the "bible of the NFL" Arkush said PFW failed to keep up with the times. He said the 2013 season preview and fantasy annuals will be available later this month "were sold to help raise money for the assignment for the benefit of the creditors." A link on the site showed liabilities of $8.5 million.
"Over the last five years our majority owner and each of the minority partners invested a tremendous amount of money, time and effort to try to build a bridge for PFW from the rapidly deteriorating world of old media to the new, exploding market of digital media and glitzy, new products. We built some truly great stuff that you all seemed to love, but try as we might, we couldn't get enough of you to pay what it cost us to deliver it. There comes a time when there is just no more money to lose, and now we are forced to close the doors," wrote Arkush, who took over the business when his father, Arthur Arkush, died.
Pro Football Weekly was located in the northwest Chicago suburb of Riverwoods. Hub Arkush also serves as a radio analyst for WSCR-AM in Chicago and as a sideline reporter during select NFL broadcasts for Westwood One Radio.