Condé Nast Shutters Four Magazines

 

NEW YORK, NY (October 5, 2009) – The employees of four Condé Nast magazines learned today that their publications are closing, the result of a publisher's review to find ways to cut costs and reduce headcount in the face of an ongoing recession that has been made worse by the continued decline in print advertising.

Modern Bride, Elegant Bride, Gourmet, and Cookie magazines are the latest Condé Nast publications to close. About 180 employees will lose their jobs as a result, the publisher said. Earlier Condé Nast shut down the business magazine Portfolio and the home decor magazine Domino.

The Times Square-based Condé Nast is the publisher of the top magazines Vanity Fair, The New Yorker, and Wired.

Today the company said they would take their magazine Brides to monthly publication now, and that they remain committed to the Gourmet "brand" and will continue producing Gourmet television and books.

Today's closings are the result of Condé Nast hiring the consulting firm McKinsey with the order to find ways they could trim costs.

Forbes magazine today, in reaction, reported that Madison Avenue advertising buyers were generally in favor of the closings, saying that the moves "made sense" and that keeping "multiple titles aimed at similar readers" is "challenging" during a recession.

 

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