Conde Nast Closes Four Magazines, Gourmet Magazine is One of Them

October 5, 2009, By Alex Ion

The financial crisis is taking prisoners and Condé Nast, a unit of Advance Publications, is amongst them.

Conde Nast Publishing

Because adverts have been slumping worldwide, the worldwide magazine publishing company is expected to close four magazines that include Gourmet, Cookie, Modern Bride and Elegant Bride.

In a recent internal memo by Chief Executive Chuck Townsend, Conde Nast has announced that closing the magazines is meant to help the company to “navigate through the economic downturn” and to position them “to take advantage of coming opportunities”. And maybe that means switching their magazines online, like they did when buying ArsTechinca in May 2008? Could it be that it costs less to get visitors online and the revenues bring a higher ROI!

Among the four magazines Conde Nast is going to close, the sad thing is that Gourmet has managed to reach biblical status in the food world after being published for almost 70 years now, with the first appearance in December 1940.

Whatever the new opportunities are, Conde Nast is obviously being hit by advertising budgets being cut down. Personally, I don’t see a recovery in print magazine advertising, how about you?

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