From: Townsend, Chuck
Sent: Monday, October 05, 2009 10:17 AM
Subject: Announcing Changes within Condé Nast
We have now completed an extensive review of our business – an important undertaking given the dramatic changes in the U.S. economy. The review has led us to a number of decisions designed to navigate the company through the economic downturn and to position us to take advantage of coming opportunities.
Condé Nast’s success comes from the ability of our publications to attract readers with a wide range of interests, as well as advertisers who value them. But in this economic climate it is important to narrow our focus to titles with the greatest prospects for long-term growth.
As a result of our review, Brides will increase its frequency to monthly to solidify its position as the most important brand in the bridal category, and Modern Bride and Elegant Bride will close.
Gourmet magazine will cease monthly publication, but we will remain committed to the brand, retaining Gourmet’s book publishing and television programming, and Gourmet recipes on Epicurious.com. We will concentrate our publishing activities in the epicurean category on Bon Appétit.
Finally, Cookie magazine will be discontinued, and resources that had been dedicated to its publishing will be invested elsewhere.
The editorial and business staffs of Modern Bride, Elegant Bride, Gourmet, and Cookie all have earned their magazines large and devoted followings. We have been proud to publish these titles, and we are grateful to the staffs for their hard work and dedication.
These changes, combined with cost and workforce reductions now underway throughout the company, will speed the recovery of our current businesses and enable us to pursue new ventures. In the coming weeks, we hope to announce initiatives to develop digital versions of our brands that will make use of new devices and distribution channels.
Condé Nast is now in its 100th year of creating the most respected and iconic brands in the publishing world. These changes will ensure that our unique publishing company will continue in its preeminent position for many years to come.
Memo from Drew Schutte, senior vice president and chief revenue officer at Conde Nast Digital:
Changes like this are tough, but the long term goal is a positive impact on our overall business.
To that end, a singular focus now within the Bridal category, should have a positive impact on our sales and marketing efforts.
In regard to Cookie.com and Gourmet,com, the sites will remain up at least through the end of the year.
If you have advertisers booked into 2010 or feel those booked on them now will be interested in a change, please call Christine to discuss.
Between Epicurious, our editorial for Mom’s, and new Mom’s demographic buy, we have solid options to offer.
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