Gourmet Magazine Closing?

This morning I heard the news that Condé Nast is about to announce that it will close Gourmet magazine, they can't do that, the magazine is considered the best in the food world; and has been around since 1940. What are they thinking about? What is the cause of the closing?

For months now I've been hearing rumors that the magazine publisher Conde Nast was considering shutting down Gourmet magazine.
Today it finally happened.

The magazine has sustained a severe decline in ad pages, but the cut still comes as a shock. There was speculation that Condé Nast would close one of its food titles — Gourmet or Bon Appétit — but most bets were on the latter. Gourmet has a richer history than Bon Appétit, and its editor, Ruth Reichl, is powerful in the food world.

In addition to Gourmet, Condé Nast plans to announce it will also close Cookie, Modern Bride and Elegant Bride. Cookie is a relatively new introduction, started in 2005, while the bridal magazines were seen as offshoots of the bigger Brides magazine, which Condé Nast also owns.

Given the outpouring of anger on Twitter aimed at Condé Nast (and consultants, McKinsey) over the move, it's clear I'm not alone in mourning its passing. Indeed, within hours of the news breaking, fans had begun calling for the magazine to be brought back - and it's yet to close. So is it the end of an era, as we like to say in cliché land, or just the way of the world in this wired age? Did you ever read Gourmet and if so, what did you think of it? Help us mark its passing.