PRINT IS DEAD: Conde Nast To Cut Back!!!
Edited by Hillary Frazier
John Koblin from the New York Observer talked to insiders from McKinsey that told him the news about Conde Nast’s cut backs:
- Budget reductions of around 25% at Details, Traveler, Glamour, Gourmet, and Teen Vogue.
- Unknown budget cuts at the rest of the Conde mags—except the New Yorker, which is escaping unscathed, according to the NYO.
- The various mag editors get to determine how to achieve their budget cuts.
- No immediate magazine closures are predicted, but some of the weaker titles may reduce their frequency.
- Layoffs are coming.
I’m going to say it again…Print is DEAD!!
LINK LOVE: Gawker