• by Erik Sass  @eriksass1, March 10, 2009

The economic meltdown claimed another high-end victim in magazine land this week, with Tuesday's announcement from American Express Publishing that Travel + Leisure Golf will cease publication after its March-April issue.

The bimonthly magazine recently reduced its rate base from 625,000 to 500,000, but the rapidly worsening advertising climate appears to have outpaced expectations of even a few months ago.

In 2008, the magazine's total ad pages fell 13.9% compared to 2007, to 438, according to the Publishers Information Bureau. More recently, Mediaweek reports that ad pages in the first four months of 2009 were down 31.4% to 98. The title employed a total of 18 business and editorial staffers--whom Amex says will be given other responsibilities at the company, if possible.

Amex will continue to operate the T+L Golf Players Club for well-heeled golf enthusiasts.

This is the second Travel + Leisure spinoff title to fold in a little over 18 months--following Travel + Leisure Family, which closed in November 2007. Indeed, high-end recreation and leisure titles in general have not escaped recessionary wrath.

2008 saw the closing of Luxury Spa Finder in March and Golf for Women (a Conde Nast title) in July. In February of this year, Forbes shuttered its short-lived Mountain Time magazine, targeting executives who visit ski resorts in the Rockies. Last year, Future Snowboarding and Play, the highbrow sports magazine published by The New York Times, also closed.