Condé Nast Axing Gourmet, 3 Other Titles

Magazine publisher could lose $200 million this year, industry sources say
By Evann Gastaldo,  Newser Staff
Posted Oct 5, 2009 10:45 AM CDT
The Conde Nast Building is shown in Times Square, New York, Tuesday Jan. 12, 2007.   (AP Photo/Bebeto Matthews)
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(Newser) – Condé Nast will shut down iconic foodie magazine Gourmet as well as newer title Cookie and Brides offshoots Modern Bride and Elegant Bride, CEO Charles Townsend announced today. Hundreds of jobs will be lost in the company’s biggest single day of closings, the New York Post reports. The publishing powerhouse, experiencing a steep decline in ad revenue, made the decision following a three-month cost analysis.

These shutterings will be the first since the study, but Condé Nast previously closed Portfolio and Domino, and folded Men’s Vogue into Vogue. Other titles were instructed to cut about 25% from their budgets, adds the New York Times; the company has lost more than 8,000 ad pages this year. The loss of Gourmet is particularly surprising considering its powerful editor and long history—many assumed in-house rival Bon Appétit would be the one to go.