Private Frazer’s Doomed Magazines

October 28, 2011

Early Retirement

Filed under: B2B magazines,closures — privatefraser @ 8:29 am
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It’s proving to be a hard winter for pensions titles. Following on from the FT’s axing of Pensions Management, today’s post brings a copy of an email from Nick Rapley, MD of Incisive:

After much consideration we have decided to discontinue publishing Global Pensions and ETFM. [Exchange Trade Funds Magazine – but you knew that already didn’t you.]

There are various cyclical and structural challenges at play which combined make the continuation of these brands untenable.

If any of you live next door to a pensions magazine, it might be worth popping round to check if they’re okay.

[Thanks to John for the lead on this]

October 27, 2011

Lack of Support

Filed under: closures,consumer magazines — privatefraser @ 12:36 pm

They think it’s all over, because it is. The Football Supporters’ Federation give Football Supporter magazine an early bath.

Altogether now, “you’re not printing, you’re not printing, you’re not printing anymore.”

Silent Spring

Filed under: Future Publishing — privatefraser @ 8:39 am
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From PaidContent:

“Magazine publisher Future is “eliminating an entire tier of overhead” in the shape of CEO Stevie Spring and FD John Bowman…Spring will be replaced by Future’s UK CEO, Bowman replaced by UK finance director Graham Harding.”

Bath pubs should expect a significant upsurge in business today, as the remnants of Future’s staff hit the bars in celebration.

Some interesting facts:

  • In the year from October 2010, Spring’s salary was £400,000, Bowman’s was £246,000 .
  • Spring also had a £160,000 performance-related bonus, Bowman £39,000.  (You have to ask if they can get £200K for last year’s dismal performance, what sort of bonus they would have got if they’d actually achieved anything.)

A nice quote for Chairman Peter Allen “[These departures] achieve substantial savings by eliminating an entire tier of corporate overhead.”

How Stevie likes her years of tireless self-promotion dedication dismissed as ‘corporate overhead’ is not known.

And is it just me, or do the statements and the speed of this move suggest that the departures were not, perhaps, entirely voluntary? The corporate statement says “ Stevie Spring, CEO, and John Bowman, FD, have resigned with immediate effect.” No warm words from Stevie, no handover period, no farewell tour – just ‘resigned with immediate effect.’

My work here is done.

October 26, 2011

Shrouded Oft

Filed under: closures,consumer magazines — privatefraser @ 10:28 am
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According to a report on Media Grauniad, Tribune is to announce its closure. Again.

It was pulled from the brink two years ago when it was bought by Kevin McGrath. At that time it was reported as selling fewer than 4,000 copies a week and since the purchase, according to the Graun, “the magazine has missed circulation and revenue targets”. You don’t say.

Private Frazer is still waiting for the axe to fall on New Statesman, but it seems Mike Danson has deeper pockets than Mr McGrath.

October 13, 2011

Red Sky in the Morning

Filed under: closures,consumer magazines — privatefraser @ 1:25 pm

After axing a couple of their relatively smaller (a modest 4 million circulation. Each.)  freebie titles earlier in the year, and changed the frequency of the Sky magazine from monthly to quarterly, Sky have now gone the whole hog and closed Sky magazine.

To give an idea of the scale of this, Sky magazine’s 2010 circulation of nearly 90 million individual copies is more than twice the total number of copies sold across Future’s magazine portfolio).

October 11, 2011

Changing Channels

Stevie’s doing a bit of selling, with Hi-Fi Choice, What Satellite & Digital TV and Home Cinema Choice being offloaded to MyHobbyStore with immediate effect.

None of the titles sells more than 10,000 copies. All have followed the Future model of calamitous sales declines in the past few years.

How many of the staff will relocate from Bath to Sevenoaks has not been disclosed.

October 5, 2011

The Race Is Not To The Swift

Filed under: closures,consumer magazines — privatefraser @ 8:47 am
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Very interesting times over at NatMags Hearst UK. Following the axing of She and Cosmo Brides over the summer, the finishing line has now been reached by Triathletes World.

It will pay to keep an eye on Hearst over the next few months; a board reshuffle done with an unsentimentality that Michael Corleone would have been proud of, the dropping of a formerly big brand, the axing of a number of brand extensions – all imply some even more brutal changes to come.

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