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.A third bridal magazine, Bride, will go from 12 releases a year to six.
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.