The Industry Standard Europe, favourite newsletter of the dot.com community, has put itself up for sale six months after it opened.

Neil Thackray, chief executive of the European magazine and website, said negotiations were taking place with a number of potential investors or buyers. It is owned by Standard Media International, the Silicon Valley-based company that publishes the US version.

Mr Thackray said it would make more sense to have a European able to offer strategic help as well as cash.

"My judgment was that we could increase our rate of growth if we worked with someone who had infrastruc ture in place such as distribution which would help our route to market."

The decision had not been forced by the US parent, which has shed large numbers of staff since the start of the year.

Chroniclers of the internet economy have not been immune from the downturn. Red Herring has also made job cuts while Business 2.0, the new economy magazine owned by Future Network, is up for sale.

Pearson, owner of the Financial Times, has a 2.5% stake in Standard Media International but is understood to have ruled out making a bid for the European version.

Mr Thackray said he was confident Industry Standard Europe would reach break even at the end of next year.

Useful link
Industry Standard Europe