Editor Eric Flint writes:
In a nutshell, we were simply never able to get and retain enough subscribers to put us on a sales plateau that would allow us to continue publishing. From the beginning, we were too dependent on the income from the Universe club. The Club’s purpose was to provide the magazine with a much-needed initial surge of income—which it did indeed provide—and then, after the first year, to continue as an important but subsidiary source of income. Instead, the Club wound up being the source of about half of our annual income, from beginning to end.
Once those critically important subscribers began dropping out, Flint explains, that was the beginning of the end.
It is really sad to see Jim Baen’s Universe go under. From the outset, it paid top dollar for stories, and provided new writers with space reserved to make a name for themselves. I never got around to submitting a story to them for consideration while I had the chance. Now it’s too late.