Magazine Death Watch: Will Condé Opt To Close Mags Over Budget Cuts?

Well this puts a new spin on the whole Condé Nast, McKinsey saga. WWD’s Memo Pad is reporting that despite all the recent focus on the recommended 25% budget cuts across the board, reported earlier this week, the powers that be at Condé might still opt to close down some magazines altogether.

According to several well-placed insiders, top management is considering closing some titles by the end of the year — a decision that is likely to be finalized after the current sessions on 2010 budgets…And even once titles submit their cost-cutting plans, sources said, that doesn’t mean all is complete. Top executives at the company could still decide to close titles as opposed to endure budget cuts so extreme that production quality would be jeopardized or advertising and circulation growth would be too difficult. Or, as earlier chatter indicated, management could opt for no closures at all and tough it out until the economy recovers. Regardless, the final plan for 2010 is expected to be decided upon within the next few weeks.

The Observer also points out that closures could come as late as January (the end of the fiscal year, also when Domino was shuttered last year). Anyone want to start speculating which title(s) are going to be thrown under the wagon in order to keep the wheels well-greased at Vogue and Vanity Fair? We’ll start: Details, Gourmet, and W were the results of a quick survey of our office.

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