Bonnier USA to shutter several travel magazine print editions
The US division of Swedish magazine publisher Bonnier will be shuttering several travel magazine print editions, according to a report from Keith Kelly at the NY Post. The magazines effected are Islands, Destination Weddings & Honeymoons, and Caribbean Travel & Life, which was made into a supplement of Islands a while ago. All three will see their last print editions published by the end of the year, a new digital version of Islands is planned for 2017.
Islands had a paid circulation of 221,483 as recently as 2013, with over 31,000 of that digital. But its circulation is now barely over 100K, according to its June AAM statement, with less than 5,000 being digital.
Kelly says that editorial director Shawn Bean and corporate brand manager Matt Hickman will be retained by Bonnier, while “about a half dozen staffers are being shown the door.” (Gotta love modern magazine management.)
Kelly also got a wonderful quote from Bonnier USA CEO Eric Zinczenko: “The brands were profitable but in decline. This move will ensure the path to sustained profitability.”
Yes, publishers are always looking to shutter their profitable print magazines… in order to “ensure the path to sustained profitability.”
Bonnier was the company behind the development of the Mag+ digital publishing platform. But Bonnier USA chose to stop using the platform in order to get a couple of their titles into the Next Issue Media digital newsstand. The move was has led to some of Bonnier USA’s magazines having multiple apps inside the Apple App Store, one of which serves as an archive of the digital editions produced with the Mag+ platform, and the newer apps using Adobe.
Bonnier entered the US market in 2006 when it became part-owner of the Orlando-based publisher World Publications, then run by CEO Terry Snow. The next year Bonnier acquired Time4Media and The Parenting Group. Snow retired in 2013 and was replaced by CFO David Freygang, who himself retired last year. When new CEO Eric Zinczenko started his job one of the first things he had to admit was that the company had been swindled out of $1.5 million when Freygang’s email had been hacked and money was wired to China. Another $1.5 million was set to be wired when an employee checked with Freygang to see if the transfer was legitimate. The bank was able to stop that wire transfer in time.
Zinczenko joined Bonnier in 2007 from Time Inc.’s Time4 Media unit, as part of Bonnier’s original management team, running the NYC-based Bonnier Men’s Group. Tom Beusse, who was CEO at Time4 Media at the time of the acquisition by Bonnier, was named CEO of F+W at the beginning of this year.
(Magazine publishing is like musical chairs, except there always seem to be chairs still there for those in the corporate suites, right?)
Kelly also reported today that Time Inc.’s senior vice president of brands, Daniel Kile, is leaving the company. Kile, who is a Michigan State University grad, joined Time Inc. in 2006 after earlier gigs in PR with The New Yorker and Alfred A. Knopf.
Kile is one of many who was left in a lurch following the recent reorganization at Time Inc. The reorg was announced just prior to the second quarter earnings report, giving the company something to talk about other than why it so badly missed its forecasts. Somebody had to pay, so there have been layoffs in sales, editorial and administration, with Executive VP Evelyn Webster having her job eliminated (but not before she made layoffs).