Citing declining ad sales since September, RedPoint Media Group has decided it will fold CalgaryInc magazine, according to a story on the CBC website. The final issue will be published in March.

RedPoint executive vice president Gary Davies said five employees and one intern have been laid off as a result of the closure. He also said some elements of the magazine, such as the "Top 40 under 40" will be rolled in Avenue, the Calgary city magazine also published by RedPoint.

The magazine had a circulation around 28,000, mostly controlled.