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BREAKING NEWS & VIEWS
Condé Fallout: Gourmet, Modern Bride, Elegant Bride, Cookie to Fold .jpg) Cookie.According to an internal Condé Nast memo from CEO Chuck Townsend, Brides magazine will increase its frequency to monthly to take the lead as the bridal title for the company, while the other titles have been discontinued. The Gourmet brand will no longer be attached to a monthly magazine but will continue its book publishing and TV iterations as well as its branded recipes on the Condé Nast Epicurious site. Townsend did not specify the number of layoffs associated with these closings, but did tell staff in the memo, “These changes, combined with cost and workforce reductions now under way throughout the company, will speed the recovery of our current businesses and enable us to pursue new ventures. In the coming weeks, we hope to announce initiatives to develop digital versions of our brands that will make use of new devices and distribution channels.” The source of Condé Nast’s financial crisis are the losses at Newhouse Newspapers (Cleveland Plain-Dealer, Newark Star-Ledger, etc.). In the past, their profits subsidized the magazines, but no more. More to come from minonline. If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com |
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