Red Herring to cease publication

RCH Media will cease publishing its flagship magazine, The Red Herring, according to a notice posted on the publication's Web site. Red Herring covered the Silicon Valley venture capital community for 10 years, riding high on the Internet boom but ultimately failing to weather the bust.

"I thought the worst was over, and the company was back on solid ground. But the advertising market remains sluggish, and our investors decided they had had enough," Red Herring co-founder Tony Perkins wrote in a note Monday.