Word: conde
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Dates: during 2000-2009
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...forces assembled against print media scored a big scalp on Monday when Condé Nast announced that Gourmet magazine was finished. The 68-year-old foodie look book will close after the publication of its November issue, although the title will live on in books and on TV shows and some of its content will be folded into Epicurious.com...
...closure was announced in a memo from Condé Nast CEO Chuck Townsend that brought other grim tidings: the company also folded Elegant Bride and Modern Bride into Brides magazine, which increased its circulation to monthly, and closed parenting title Cookie. But it was Gourmet - the grande dame of food periodicals - that struck most deeply at the hearts of epicures and magazine fans, who were bemused by the fact that Bon Appétit, the lower-brow of the company's two foodie titles, simmered on. (See the top 10 magazine covers...
...Condé Nast, part of the privately held Advance Publications, has long prided itself on its luxury magazines, and has reportedly been willing to sustain big losses to maintain its image as the ne plus ultra of wealthy readership. Many speculate that the parent company's newspaper holdings, including such distinguished titles as the Cleveland Plain Dealer and the New Jersey Star-Ledger, propped up the magazine empire. But newspapers are no longer reliable golden geese, and Condé Nast recently called in a management consultancy to see how its business could be streamlined. (Read "Portfolio's Flameout...
Because of its place in the Condé Nast family, Gourmet had been able to attract fashion and perfume ads when times were good. But as the economy tightened, non-food advertisers didn't see the magazine as vital to their campaigns, while packaged-good companies didn't see a luxury book as key either, and travel advertising, another of its pillars, fell away...
...None of the extravagance, it should be noted, is extraordinary at Condé Nast or other glossies. While ex-staffers say Lipman's background in newspapers afforded her little understanding of how much high-end magazine journalism costs, Condé Nast chairman S.I. Newhouse Jr. stuck by her a month past the April issue, which at 106 pages was reputed to be the thinnest his company had ever published. The magazine relied on advertisers from the finance, corporate-branding, car, travel and luxury-goods industries, all hard hit in this recession, and it never became a must...