Conde Nast closes four magazines after cost review
October 6, 2009 --Reuters'Paul Thomasch and Robert MacMillan report Conde Nast will close four magazines following a cost reduction review in the face of an advertising slump: Modern Bride, Elegant Bride, Gourmet, and Cookie. As a result, about 180 employees will lose their jobs. "The company is far from being the only U.S. publisher to suffer circulation and advertising revenue declines as readers go online and advertisers slash budgets because of the recession. It is, however, one of the most conspicuous," report Thomasch and MacMillan. Read the story.
