Meredith Corp. has made another change.
The publisher is shuttering the almost 90-year-old Family Circle magazine, with the last issue of the monthly publication that has a circulation of 4 million being the December 2019 issue.
The closure of the home magazine, which Meredith acquired in 2005 as part of its purchase of Gruner + Jahr USA, will result in job losses for 25 staffers at the magazine, while it also announced another 45 positions will be cut company-wide.
A Meredith spokesman stressed, though, that a recently announced $50 million investment in digital, video and e-commerce is creating more than 200 jobs.
As for Family Circle’s management team, some will be moved to other Meredith magazines. Its executive editor Rory Evans will take up the same role at Real Simple, while editor in chief Cheryl Brown will become executive editor of Health and Brendan Smyth, its publisher, will do the same job at Health.
Closing Family Circle is just one of a number of moves Meredith has made since it acquired the Time Inc. portfolio of media brands in January 2018, making it the largest magazine publisher in the U.S.
This included off-loading former Time Inc. brands Sports Illustrated, Fortune and Time. The only former Time Inc. brands Meredith still has are People, InStyle, Travel + Leisure, Entertainment Weekly and Real Simple. It also owns Better Homes & Gardens, Magnolia Journal, Martha Stewart Living and Southern Living.
“Our portfolio philosophy continues to emphasize investing in brands that are market leaders and/or possess the highest growth potential. Sometimes, that means making hard decisions,” said Doug Olson, president of Meredith Magazines, explaining his decision to shutter the magazine.
“Fortunately, we have been able to find new roles for some of the Family Circle team, and I would like to thank the entire group for its hard work and wish those employees affected the best in future endeavors.”
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