The paper's Sunday sports magazine had been scheduled to come out four times in 2009, but apparently the worsening ad climate led to a second look - and the decision to close up shop. FishBowl NY has the story.
"The company needs to make some pretty considerable cuts going forward," [Play editor Mark] Bryant explained and his magazine was a victim. According to the editor, Play wasn't losing money. "I'm am told that last year we more or less broke even, thanks largely to the Nielsen deal for the Olympic issue," he said. (Nielsen bought out the entire issue. It was, according to Bryant, the "largest single day sale in the history of The New York Times.)
Play was one of several offshoots of the NYT magazine. Other themes on fashion and travel seem to be faring much better, at least based on the number of ads.