Bauer Media to close Grazia, citing ‘market dynamics’
Hours after refusing to comment on speculation that it was closing Grazia magazine, Bauer Media has announced that it is to shut the title, with the final edition hitting the newsstand the week after next. The company blamed “market dynamics”.
The announcement:
Bauer Media and the Mondadori Group, partners in the Australian edition of Grazia, have decided to cease publishing the magazine, with the last issue to be on sale on February 25, 2013.
Grazia launched in Australia in July, 2008 and currently attracts 197,000 readers weekly, reflecting the editorial team’s consistent delivery of a quality and compelling magazine.
Bauer Media CEO Matthew Stanton said the decision to close Australia’s first and only weekly fashion magazine was difficult and disappointing.
“Over four and a half years, the Grazia team, week in and week out, have brought readers a 100+ page glossy fashion magazine produced to the same high standards as a fashion monthly – a huge achievement of which we are very proud.
“Unfortunately, despite everyone’s best efforts and the ongoing commitment of the team, market dynamics are not able to sustain Grazia’s weekly format.
“Bauer and Mondadori have therefore reluctantly concluded that Grazia is not commercially sustainable in this market.”
Mr Stanton added that affected staff were being consulted and every effort would be made to find roles for them on other Bauer titles. Grazia editor Amy Molloy will continue to write for Bauer Media titles.
The last issue will be on-stand for one month until March 25, 2013.
Linkedin
Very disappointed. Loved Grazia and even shelled out coin to buy it (which says a lot for a 20 year media veteran who somehow never got on the comps list ;))
User ID not verified.