Shared from Business of Fashion
DotDash Meredith, whose parent, media group IAC, is chaired by Fox and USA Broadcasting Companies founder Barry Diller, announced it was shutting down the print editions of six magazines, including InStyle and Entertainment Weekly. The titles will move to digital only, eliminating approximately 200 jobs, mostly supporting print operations, according to a memo from Dotdash Meredith chief executive Neil Vogel.
“It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for a few important brands, print is no longer serving the brand’s core purpose,” said Vogel in the memo.
The news comes just months after Dotdash announced its acquisition of Meredith for about $2.7 billion — $42.18 per share — in November 2021.
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Images and Article from Business of Fashion