George magazine to fold in March

NEW YORK (CNN) -- George magazine, the political monthly founded by the late John F. Kennedy Jr, is folding, its owner said Thursday.

In a statement released by Hachette Filipacchi Magazines, the company said the magazine, which struggled to make money, will cease publication in March.

"Despite a superb editorial product under the leadership of Editor-in-Chief Frank Lalli, advertisers' support has not been forthcoming," Hachette President and CEO Jack Kliger said. Citing the "recent softening of the advertising market," Kliger added, "The likelihood that George's prospects will improve in this environment has become remote."

"While I have been enthusiastic about George and remain so, the reality of today's magazine business is that we cannot make George work economically," he said.

Staff members were informed Thursday of the decision.

The final issue of George will include interviews conducted by Kennedy while he was editor.

Kennedy, his wife and sister-in-law were killed when the plane he was piloting crashed into the Atlantic Ocean in July 1999.