May 15, 2017 Last Updated 8:44 am

Hearst Magazines UK and Condé Nast withdraw from jointly-held magazine distributor Comag

In 2012, Hearst Magazines and Condé Nast sold their interest in Comag Marketing Group in the US to Vancouver-based Jim Pattison Group. The two magazine publishers, however, retained ownership of Comag in the UK, Hearst Magazines UK owning 65 percent and Condé Nast Publications 35 percent.

Today, though, both companies announced that they were pulling out of the venture, leaving the future of the company very much in doubt.

Independent, third party clients comprise more than half of Comag’s business, the company’s website says, but the loss of the two big publishers would likely make continuing difficult.

Condé Nast and Hearst Magazines announced in February 2016 that it had created a new entity to handle manage production, procurement and circulation management for both publishers: PubWorx.

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