The bad economy has killed 4 popular magazines published by luxury publisher Conte Nast. Gourmet the high end food publication, two bridal magazine Modern Bride and Elegant Bride and parenting magazine Cookie. The magazines were attracted to middle class and high class subscription bases.
In a statement by Conte Nast publisher in CEO Charles Townsend, says Conte Nast will keep the Gourmet name in book publishing and television productions. The signature bridal magazine Bride’s will remain but will published every two months.
“We have now completed an extensive review of our business — an important undertaking given the dramatic changes in the U.S. economy. The review has led us to a number of decisions designed to navigate the company through the economic downturn and to position us to take advantage of coming opportunities.
“Condé Nast’s success comes from the ability of our publications to attract readers with a wide range of interests, as well as advertisers who value them. But in this economic climate it is important to narrow our focus to titles with the greatest prospects for long-term growth.”
Publishing Industry expected that Conte Nast they would over $200 million a year.
Hundreds of employee will be unemployed.
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