Last week, Condé Nast revealed plans to close Gourmet, Cookie, Modern Bride and Elegant Bride magazines, with the loss of about 180 jobs, after the firm hired consultants McKinsey & Co. to evaluate its business and find ways to increase profitability across its magazines and Web sites.
The changes come as the industry has lost a quarter of its ad page revenue in 2009 during the crippling recession, and follow closures and budget cuts throughout the sector, including Blender, Domino, Country Home, Condé Nast Portfolio and Best Life. Media research firm ZenithOptimedia predicts ad spend will drop 15 percent in 2009 versus 2007, to $49 billion.
So sad ...Gourmet its been the magazine I would go over and over for new recipes and they were always fantastic.
