We hear plenty about various magazine publisher’s awesome Web sites, Facebook applications, and flashy digital video. A reminder: The industry’s core business — print-and-ink products — continue to slide. Mediapost runs down the cuts at major consumer and business publishers over the past two weeks:
- Meredith Corp. (MDP) cut 120 positions; 60 through layoffs and another 60 unfilled jobs will be eliminated.
- Reed Business Information, pubisher of Variety, Broadcasting & Cable and Publishers Weekly cut 41 jobs including editorial and sales.
- Penton Media, publisher of 113 trade magazines, laid off 42 employees.
- McGraw Hill’s (MHP) BusinessWeek axed its regional magazine, BW Chicago, after eight issues.
- Martha Stewart Living (MSO) CEO Susan Lyne walked after shares fell 57% over the past year.