Martha Stewart downsizes magazines, to cut jobs
Martha Stewart Living Omnimedia Inc. is downsizing its magazines and will cut publishing jobs as it increasingly focuses on online video and other digital content.
The lifestyle, media and merchandising company says the move could save it $33 to $35 million per year. It did not say how many employees are being eliminated, and a message was not immediately returned.
Martha Stewart will stop publishing its monthly "Everyday Food" magazine as a standalone publication, instead periodically wrapping it into the company's flagship "Martha Stewart Living" magazine. The company will also seek to sell its "Whole Living" health and lifestyle magazine. If the magazine cannot be sold, its content may also be incorporated into other company products.
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