Martha Stewart Living Omnimedia is reducing the publication of two of its magazines and laying off about 70 workers as it deals with declining advertising and circulation. The news comes ahead of the media company’s Friday morning quarterly earnings call, which had been rescheduled because of Hurricane Sandy. The company will cut back the publishing schedule of its Everyday Food magazine to 5 times a year, down from 10, and deliver the magazine as a supplement to subscribers of Martha Stewart Living, according to the New York Times. It will no longer be sold as a stand-alone publication. Whole Living magazine also is coming to an end. Company executives have been in discussions to sell the publication, which suffered a 24% decline in advertising pages in the past year. They plan to stop printing it by year’s end and fold the content into Martha Stewart Living if a sale is not concluded, the Times reports. The company has been focusing on its digital initiatives of late, launching a Martha Stewart Channel on Hulu and pacting with FremantleMedia to develop properties featuring new talent under the Martha Stewart label. MSLO has no such daily TV programs currently in production after Hallmark Channel last spring cancelled The Martha Stewart Show and opted not to order new episodes of the company-produced Emeril’s Table, Mad Hungry, Martha Bakes and Petkeeping. The company’s only new show is the weekly Martha Stewart’s Cooking School on PBS.
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This article was printed from http://www.deadline.com/2012/11/martha-stewart-cuts-jobs-reduces-publications/