The collapse of the Internet bubble claimed its latest victim Tuesday as Ziff David Media Inc. announced it was closing down Yahoo! Internet Life magazine. The magazine had a fairly large circulation of 1.1 million, according to the most recent figures compiled by the Audit Bureau of Circulations, but its advertising has plummeted. The magazine's paid advertising pages, a key measure of a magazine's health, were off 52% in the year to date through May, according to the Publishers Information Bureau. In a note to employees, Bob Callahan, the chief executive of Ziff Davis Media, said the magazine "did not generate enough marketplace support" following the end of the Internet bubble and technology market declines. "Revenue growth was showing no sign of coming back in the months ahead," he said. The magazine will suspend publication after the August issue.