Friday, June 17, 2011

Meredith Corp. Pulls Plug on ReadyMade Magazine

ReadyMade (magazine)Image via WikipediaThe Des Moines Register reports today that Des-Moines-based media conglomerate Meredith Corp. will trim 75 jobs company-wide and shutter its environment-friendly lifestyle periodical, ReadyMade Magazine, which it acquired in 2006.

Meredith blamed a weak home advertising market and sagging ad revenues for its decision to end ReadyMade. The media company will take a $10 million charge against its fiscal 2011 4th Quarter earnings related to its staff cutbacks and ceasing publication of ReadyMade.

Meredith Corp. publishes roughly 30 periodicals, ranging from Better Homes and Gardens and Family Circle to Diabetic Living and Wood, and owns about a dozen tv stations, including WGCL-TV in Atlanta and WFSB-TV in Hartford.

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