BREAKING NEWS & VIEWS

Hallmark Mag Closes, 38 Layoffs
Wednesday, February 25, 2009
Steve Smith

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Despite a rising rate base and increased ad page sales in 2008, Hallmark Magazine and its attendant Web site will close with the current issue. Hallmark president and CEO Donald J. Hall Jr. explained the decision as an effort to eliminate costly distractions in a down economy, not necessarily as a failure of the product. “We cannot justify continued investment in the magazine at a time when we must focus our efforts and resources only on those projects that will lead to long-term profitable revenue growth for the company,” Hall said in a statement.

The magazine employed 28 staffers directly, and the company says another 10 in the creative division will also lose their posts.

According to Hallmark figures, the magazine grew from a rate base of 400,000 at its 2006 launch to 800,000 at close. The company claims the book’s ad pages grew 30% last year.

Hall and Hallmark seemed to be issuing a vote of no-confidence in the viability of print. “With the overall industry clearly struggling for the foreseeable future, we could not justify further investment,” Hall added.

The editors of Hallmark Magazine issued their own statement at HallmarkMagazine.com. “Over the last three years and 16 issues we have done our best to create a magazine that would help you appreciate life’s meaningful moments,” the editors wrote yesterday. “We will miss you.”
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