Media24 is reviewing titles across its magazine portfolio, says the division’s CEO, John Relihan.
Relihan was responding to questions from The Media Online on rumours that a number of its business magazines, including AdVantage, were being closed down.
“We are continually reviewing titles in our entire portfolio, looking at their long term viability, ability to live in a digital environment, community they serve, etc,” he said.
“The business magazines are no exception. The division is certainly not closing down and if titles were likely to close or move, we would discuss with affected colleagues first,” he said.
A source close to the business said staff at AdVantage had been told the magazine was to close, and were “devastated”. “They’re in tears,” the source said.
Another person told The Media Online that 11 people in the business-to-business division – which includes a number of custom publishing titles as well as AdVantage – would lose their jobs in the restructuring process.
The source said remaining staff would now report to New Media, a subsidiary within the Media24 stable that has the requisite expertise to manage custom publishing titles. It already publishes magazines for Mercedes, MultiChoice, Mango and Woolworths, among others.
Relihan did not confirm staff losses, or if big changes were afoot in the business magazine division’s reporting structure. But, he said, “In our world we accept that in order to progress, we have to constantly adjust and tweak structures to suit the changing business environment.
“In short, if we need to change reporting lines, merge entities, create new groupings or develop new skills, we do so.”
A magazine industry insider, commenting on the number of titles Media 24 has closed over the past year, said the media giant simply doesn’t “understand small circulation publishing”. The company stopped publishing SA Garden/Tuin, NewsNow and tabloid newspaper Scoop! as well as its health and wellness magazine, Shape.
The source said an announcement was expected today.