British magazine giant IPC Media is axing six magazines plus its events and exhibitions arm IPC Live!, with the loss of around 115 jobs – the first major changes since the group was swallowed by AOL Time Warner over the summer [WAMN: 26-Jul-01].
Four of the doomed titles – Woman’s Journal, Marie Claire Health & Beauty, Your Garden and Homes & Ideas – come from the IPC Southbank unit. In addition, Your Life magazine will be axed, and Practical Parenting’s Complete Guide to Pregnancy will be merged into Practical Parenting.
“We have looked at all the options for each of these businesses including the opportunities afforded to us now that we are part of the AOL Time Warner family,” said chief executive Sly Bailey. “Although a tough decision to take, this is the only sensible commercial course of action available to us.”
The group’s involvement in events and exhibitions will now be limited to the licensing of brands rather than actual organisation.
News source: Media Week (UK)