An employee at The Nielsen Co., which shuttered Editor & Publisher today, says co-workers are “quiet and sullen” after a round of layoffs wiped out 80 staffers.
“The mood is horrible,” says the employee. “The magazines that remain are the ones that are tied to expos and the expos are the big money-makers. Nielsen is going to focus on expos and their related assets.”
In addition, the ad and promotions design department has been cut down to two employees. They’ll have to make more with less.
Nielsen announced earlier that it had sold Adweek, Brandweek, Mediaweek, The Clio Awards, Backstage, Billboard, Film Journal International and The Hollywood Reporter. The buyer is e5 Global Media Holdings LLC, formed by Pluribus Capital Management and Guggenheim Partners.
Editor & Publisher’s Shawn Moynihan wrote about the 125-year-old title’s closure today, even including email addresses for employees.
As news spread of E&P’s fate, the staffers have been inundated with calls from members of the industry it covers, and many others, expressing shock and hopes for a revival. Staff members will stay on for the remainder of 2009.
Greg Mitchell, editor since 2002, has hailed the staff and accomplishments, including a dozen major awards and strong showing on the Web for many years. Some staff writers/editors have been at E&P for a quarter of a century. “I’m shocked that a way was not found for the magazine to continue it some form — and remain hopeful that this may still occur,” he said.
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