Savvy Woman Will Be Closed After February Issue
NEW YORK (AP) _ The poor advertising climate claimed another victim on Friday - the lifestyle magazine Savvy Woman.
Family Media Inc., which acquired the magazine designed for businesswomen in 1985, said Savvy Woman would cease publication with the February issue.
It joins a growing list of magazines that have recently folded as the recession prompted many advertisers to scale back their spending in magazines. Among magazines that have announced plans to cease publication over the past few weeks have been Fame, Wigwag, Assets and Egg.
″Savvy Woman was well-received by consumers but was a more difficult advertising proposition,″ said Bruce Barnet, president of Family Media Publications.
The magazine’s advertising pages fell nearly 35 percent in 1990 and the indications for early 1991 were that ad volume was not growing.
The magazine, which was founded in 1979 under the name Savvy, had a circulation of about 500,000, up from 350,000 when Family Media acquired it from founder Allan Bennett.
Last year, the magazine went to a publications schedule of 10 times a year rather than monthly.
Barnet said in the past few months, Family Media had talked with a number of potential buyers or joint venture partners to no avail. He said talks about arranging advertising sales combinations with other magazines also proved fruitless.
The staff, which amounted to about 25 people, was informed of plans to close the magazine on Friday morning. Barnet said efforts would be made to find the staffers jobs with other Family Media publications but he said conditions were tight throughout the magazine business.
Publishers Information Bureau recently reported ad pages in major magazines it follows were off nearly 4 percent through November compared with the same period a year earlier.
Family Media publishes seven other magazines, including Discover, Health, Golf Illustrated and 1001 Homes Ideas.