Meredith axes 200 employees, combines food magazines
Cooking Light is getting slimmed down.
Magazine giant Meredith swung the ax again on Wednesday, lopping about 200 jobs and merging its Cooking Light title into EatingWell and chopping the frequency of Coastal Living to a newsstand-only quarterly.
Cooking Light will live on as a website and will publish six newsstand-only print editions a year.
Sid Evans, who was editing both Coastal Living and Southern Living out of Birmingham, Ala., will now concentrate solely on Southern Living.
“Combining the powerful EatingWell and Cooking Light magazines will strengthen our editorial product while providing advertisers with access to this passionate group of consumers seeking a healthier lifestyle,”said Carey Witmer, EVP and Group Publisher of the Meredith Food Group.
With existing titles such as Allrecipes, Food & Wine and Everyday with Rachael Ray, Meredith is still deep in the food category. Hunter Lewis, who had been doing double duty at Cooking Light and Food & Wine will now concentrate only on F&W.
But shrinking the scope of 31-year-old Cooking Light is sure to disappoint some food aficionados. The magazine had made regular appearances on the Adweek Hot List and the AdAge A-List over the years.
Coastal Living will also live on as a newsstand-only title, but will no longer offer subscriptions. Unless a consumer requests a refund, most of the subscribers will start receiving Southern Living, regardless of where they live.
The Time Inc. book division, which produced the books that were spun out of the magazines, will now be outsourced to a yet-to-be-determined publisher.
And finally, the Time Inc. Retail operation, which kept tabs on the magzines sold through various retail and newsstand channels, will be outsourced. It was considered a key resource for weekly magazines. But two once-dominant weeklies, Time and Sports Illustrated, are among the magazines that Meredith inherited from Time Inc. in its $2.8 billion acquisition, but which are now in the process of being sold along with Fortune and Money.
About 25 of the editors being laid off operated out of Birmingham, Ala., which will still have about 200 employees working there. It was once the proud home of Southern Progress Corp., which Time Inc. had bought in 1985 for $485 million. At one point, it employed more than 800 people and was housed in several buildings on its own campuslike headquarters. It had been faced with repeated rounds of downsizings over the years as Time Inc. did away with the Southern Progress name.
The combination of Cooking Light with EatingWell means the latter will have a circulation of 1,775,000. EatingWell had previously had a circulation of 1 million.
The cutbacks also hit production, information technology, finance, consumer revenue, digital, editorial and advertising operations.
“The cost savings associated with these opportunities will help fund growth-focused investments within or brand, digital, data and consumer revenue businesses,” the company said.