October 5, 2009
Conde Nast to cut four magazines
Conde Nast Chief Executive Officer Charles Townsend said the high-end U.S. publisher would shelve four magazines and cut publication at a fifth.
Townsend said Monday Conde Nast would close Gourmet magazine, Cookie, a parenting magazine, and two bridal magazines, Modern Bride and Elegant Bride.
With the closures, hundreds of employees are expected to lose their jobs, the New York Post reported Monday.
The publishing house is expected to lose $200 million in 2009, the Post said.