WEALTH June 15, 2026 0 Comments

The Phoenix Magazine Shuts Down After 40+ Years—What This Means for Niche Publishing’s Future Is a Game-Changer

Isn’t it something when a giant of the current affairs world quietly closes its doors after more than forty years? The Phoenix — Ireland’s cheeky, no-holds-barred fortnightly magazine that’s been delivering the inside scoop on politics, media, and business since 1982 — has officially called time. Once a vibrant hub for satirical gems and unrelenting investigative pieces, its circulation has dwindled to about 10,000 copies per issue, a stark reminder of how even the sharpest voices can struggle to keep pace in today’s media landscape. Despite chasing new investors and fighting tooth and nail, The Phoenix is heading into voluntary liquidation, leaving many to wonder: can such fearless journalism survive in the digital era, or is this just the start of a quieter, less rebellious news cycle? Let’s dive into the story behind this iconic publication’s final chapter. LEARN MORE

Current affairs magazine The Phoenix is to cease publication after more than 40 years.

The latest edition of the fortnightly magazine was published on 5 June, and it is believed that no new edition will be released at the end of this week.

Over the weekend, The Phoenix website said it was no longer in a position to accept new print or online subscriptions.

Management has contacted contributors to say that the magazine is going into voluntary liquidation.

The Phoenix is managed by Penfield Enteprises and led by editor Paddy Prendeville and managing director Aengus Mulcahy, son of publisher John Mulcahy, who published the first edition in 1982.

Between 2004 and 2024, circulation halved, and the magazine now sells around 10,000 copies per issue. The owners had been seeking a new investor to keep publication going but were ultimately unsuccessful.

The Phoenix is loosely modelled on Britain’s Private Eye and offers “the inside stories on what’s really going in Ireland”.

The magazine does not publish bylines and frequently features gossipy articles about powerful and rising figures in politics, business and media as well as satirical pieces and cartoons.

Regulat features include in-depth profiles under the headlines Pillars of Society and Young Bloods, current affairs missives under Affairs of the Nation, and media stories in Fit to Print.

Founder of Phoenix magazine John Mulcahy and editor of Phoenix magazine Paddy Prenderville at the 20th anniversary of Phoenix in 2003. (Pic: RollingNews.ie)

The latest accounts for Penfield Enterprises show accumulated losses of €101,000 following an annual loss of €21,300 in 2024, nearly triple the €8,100 lost in 2023.

The company, which had an average of 10 employees in 2024, owed €415,300 to its creditors within one year against current assets totalling €292,100 between €268,600 in receivables and €23,500 in cash.