Condé Nast Publications Inc. will close Gourmet and three other publications. They want to position the company because of the slow advertising on the magazine business.
Since they are closing so many publications, do you think Conde Nast itself will close soon too?
I don't know if Conde Nast is closing as a company but their business sure is bad at the moment.
In addition to Gourmet, the publisher will shut Cookie, Modern Bride and Elegant Bride and lay-off about 180 people, Condé Nast Chief Executive Chuck Townsend said in an interview Monday.
The cuts follow a nearly three-month review by McKinsey & Co. that will result in expense reductions of as much as 20-25% at many of the magazines, which include Vogue and Vanity Fair.
