Topline
Dotdash Meredith is shutting down the print editions of six venerable magazines, including Entertainment Weekly and InStyle,, the company told employees Wednesday, a company spokesperson confirmed to Forbes.
Entertainment Weekly magazine is seen on display during an Evening Of Pub Quiz Trivia with David … [+]
Key Facts
CEO Neil Vogul wrote in a memo to staffers, which was first reported on by the Wall Street Journal, that EW, InStyle, Eating Well, Health, Parents and People en Espanol will publish their last print editions in April, and will continue as digital-only brands.
Vogul cited a “pronounced shift in readership and advertising from print to digital,” saying “for a few important brands, print is no longer serving the brand’s core purpose.”
The change is expected to result in roughly 200 job losses, or 5% of Dotdash Meredith’s staff, according to the Journal—though Vogul noted that the company has 100 open positions, some of which the company hopes to fill with employees whose jobs will be eliminated.
Vogul noted that the change does not signify “another nail in print’s coffin,” and said the company plans to invest in its 19 other print publications by improving paper quality and changing sizes, and will be investing $80 million this year across all its brands.
Crucial Quote
“These employees have helped create some of the best media brands in the world,” a DotDash Meredith spokesperson told Forbes. “We thank them for their years of dedication and are committed to helping them make a smooth transition.”
Key Background
Billionaire Barry Diller’s media company IAC/InterActiveCorp in October struck a deal to acquire Meredith for $2.7 billion,. giving it popular titles including People, Better Homes & Gardens and Food and Wine. The company was added into IAC’s digital publishing group DotDash and rebranded as DotDash Meredith.As the media landscape has continued to shift digital, several major publications have shuttered or severely limited their print editions in the last few years, including Marie Claire, Saveur, O Magazine, Teen Vogue and Nylon. In 2019, Entertainment Weekly changed its publishing frequency from weekly to monthly.
Further Reading
Barry Diller’s IAC Acquires Meredith— Publisher Of People Magazine— In $2.7 Billion Deal (Forbes)
Barry Diller’s Media Group Pulls Plug on 6 Print Magazines, Including InStyle and Entertainment Weekly (Wall Street Journal)
Entertainment Weekly, InStyle Cease Print Publications (Variety)
Source: https://www.forbes.com/sites/marisadellatto/2022/02/09/iac-scrapping-print-editions-of-instyle-entertainment-weekly-and-other-magazines/