Bloodbath at Conde Nast; 4 mags axed

[gordo]

From the New York Post:

Bloodbath at Conde Nast; 4 mags axed
Shutting down Gourmet, Cookie, Modern Bride, Elegent Bride magazines
By KEITH J. KELLY
Posted: 10:54 AM, October 5, 2009

Conde Nast CEO Charles Townsend said Monday he was shutting down four magazines, including the awarding winning Gourmet, parenthood title Cookie and two of the company’s bridal magazines, Modern Bride and Elegant Bride.

It was the biggest one-day bloodbath in the publishing company’s 100-year history. Hundreds of people will be tossed out of work.

The company said it would keep the Gourmet cookbooks and television programming but shut the monthly magazine. Bride’s, the last surviving bridal book, will move to monthly from six times a year.

Industry sources had estimated that Conde Nast could lose $200 million this year.

The closings come after the management consulting firm McKinsey & Co. completed a three-month study of the American magazine publishing giant that is headed by billionaire chairman S.I. Newhouse, Jr., and is part of his family’s Advance Publications empire.

 

[rbailleu]

I wonder how many people this would affect.

 

[gordo]

I wonder how many people this would affect.

Whatever the number it's too many.

gordon p

 

[mattbeals]

If I recall correctly it is about 180 people. Which is one too many, but "apparently" a "necessary" cut. Hopefully there is a chance that some of the people losing their jobs can be rehired internally or transfered.

 

[oxburger]

I take it they decided to keep Bon Apetit?

 

[gordo]

I take it they decided to keep Bon Apetit?

I certainly hope so because I'd really miss the pull-out cup cake of the month centerfold.
Seriously though, I just buy it for the interviews.

best, gordo