LEXINGTON, Ky. (AP) — A biweekly magazine in Lexington that covers the horse racing and breeding industry has shut down.

Thoroughbred Times editor Mark Simon told the Lexington Herald-Leader (http://bit.ly/Os8gk1) that the biweekly publication ceased operations on Friday after its parent company, Thoroughbred Times Inc., filed for bankruptcy.

He said the magazine's owner, Norman Ridker "couldn't afford to keep us running any longer."

Simon, who has worked at the publication since 1985, says 27 full-time employees were affected by the closing.

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Information from: Lexington Herald-Leader, http://www.kentucky.com