Meredith Corp. to shutter Ladies Home Journal as monthly magazine after 130+ year run
Media company reports lower ad revenues in its Q3 earnings report, sharp drop in earnings
Magazine publisher Meredith Corporation reported fiscal Q3 earnings today and surprised those on its conference call by telling investors that it would be shuttering its title Ladies Home Journal after 130 years of publishing. The title will still live on, however, in special editions produced for the newsstand.
“It just lessens what we believed would’ve become a drain in fiscal ’15 on the resources of the national media group,” Meredith CEO Steve Lacy said on the conference call today.
The Ladies Home Journal began publishing in 1883 and became known as one of the Seven Sisters group of magazines that also included McCall’s, Better Homes and Gardens, Good Housekeeping, Family Circle, Redbook and Woman’s Day. McCall’s was shuttered in 2002.
The magazine was originally published by Cyrus H. K. Curtis, but was sold in 1968 to Downe Communications. It was sold again in 1982, and then again in 1986 when Meredith bought the title. Now Ladies Home Journal will become a special interest publication – one that produces four special issues a year.
In its earnings report, Meredith reported slightly lower revenues, with advertising falling 6.7 percent. But circulation revenue increased over 5 percent in the same time period.
Net earnings fell significantly as operating expenses rose, leading to a 37 percent decline in earnings.