Cleo, the womenâ€™ magazine known for its sex tips, centrefolds and the Bachelor of the Year competition, is still in business – for now.
A report in the Daily Telegraph says Bauer Media Group, the publisher, is preparing to tell editor Lucy Cousins and staff that the magazine will be shut.
A spokesman for Bauer Media told Business Insider the magazine would continue to operate.
“The report by the Daily Tele is complete speculation, and we have no plans to announce to staff or issue a statement that we are closing Cleo today,” the spokesman said.
However, Mumbrella today reported that it “understands while a February edition is expected to be released the title will no longer exist by Easter.
Mumbrella says interim Bauer CEO Andreas Schoo is due in in Australia next week, when the closure of Cleo is likely to be announced.
The magazine was launched in 1972 by the late media magnate Kerry Packer with Ita Buttrose at its head. It hit a readership of 200,000 in its first year but more recently has been down as low as 53,000.
It has been a rocky start to the year for Bauer Media, with the highly-regarded editor of Australian Women’s Weekly, Helen McCabe, announcing she was leaving her position earlier this week.
There’s more at The Daily Telegraph.