Complex magazine to shutter print edition after Dec/Jan issue
The brand, now jointly owned by Hearst and Verizon, will concentrate on digital media, video and events
After investing $21 million in Complex magazine, then entering into a joint ownership agreement with Verizon that valued Complex Media at between $250 and $300 million, the announcement was made that the December 2016/January 2017 issue of Complex would be the last seen in print.
“As Complex embarks on a rapid expansion of premium video creation across the company’s networks and with a growing list of distribution partners, the company is reallocating certain positions to address its content needs,” the magazine said in a statement released to media outlets. “We’re deeply committed to the ongoing evolution of our brand and our long-term plan to be a leader in digital video entertainment. While we’re reducing staff in some areas, we plan to increase to meet our needs in others.”
As one can imagine, there were staff cuts associated with the closing, with design and marketing hit the hardest.
The focus now will be video and events, with the recent ComplexCon, a two-day convention, seen as an example going forward.