Modern Jeweler, the trade magazine that has been a glossy, literate staple of the industry since 1901, is suspending publication. Sister magazine Lustre is suspending publication as well.

The moves came as parent company Cygnus Business Media laid off 50 people and suspended several other titles.

Cygnus spokeswoman Kathy Scott said the suspended magazines “were all great titles” but were “in markets that are severely depressed at this time. Right now we are suspending publication until we determine the best course.”

In a blog post on the magazine’s Web site, publisher Tim Murphy and editor-in-chief Cheryl Kremkow thanked the industry for its support and readership and wrote: “We hope to find a buyer who believes in the future of the jewelry industry as much as we do.”