NewsLifeMedia is closing MasterChef Magazine and a number of redundancies will result.
The November edition, which goes on sale on 22 October, will be the final issue after just two years of publishing.
The news comes just two months after a disappointing set of circulation figures which saw the title lose more than a third of its readers in a year.
The announcement from NewsLifeMedia:
NewsLifeMedia today announced that MasterChef Magazine will move to a new publishing model moving forward. A bumper November magazine will be the final issue of the monthly title which goes on sale on October 22, 2012.
“We are looking to align the schedule of MasterChef Magazine with the television series with special themed issues when the series returns next year,” said Nicole Sheffield, Managing Director of NewsLifeMedia. “The magazine has been a very successful title for us and we have always seen increases in circulation when the program is on-air.”
“This was not an easy decision however this flexible model allows us to evolve the brand. The MasterChef Magazine editorial and advertising teams have delivered a strong food title over the last two years in an extremely competitive and fragmented environment. I would like to thank them for a great product and our readers and advertisers for their support.”
“We are the home of the best food publishing talent in this country and through perpetual evolution we are able to deliver powerful and market leading products and platforms.”
Inspired by the Australian television series, MasterChef Magazine was launched by NewsLifeMedia in 2010 and quickly became one of the most read food magazines in the country. The title enjoys impressive readership with a consistent spike in sales when the television show is on-air.
NewsLifeMedia continues to hold four out of the top five highest circulating* food magazines in the country –Super Food Ideas, ABC Delicious, Woolworths Australian Good Taste and donna hay magazine. Working hand in hand with the food magazines is digital platform, Taste.com.au, Australia’s number one food and lifestyle brand, which was recently redeveloped to further establish its leadership position.
NewsLifeMedia is endeavouring to redeploy the majority of staff.