Meredith Corp. has shuttered Country Home magazine, trimmed some 250 jobs corporate-wide, and moved some creative functions from New York to its Des Moines, IA headquarters.
“The recessionary economy has impacted both publishing and broadcasting advertising, which accounts for approximately 60% of our revenue stream,” said Meredith president and CEO Stephen Lacy, in a statement. “Trends indicate a continuing soft economy into calendar 2009 as well.”
The magazine, which published 10 times a year and employed about 40 people, had a total paid and verified circulation of 1.27 million as of June. The March issue will be its last.
The company, which also produces Better Homes and Gardens and Ladies’ Home Journal and employs about 3,500 people, said it was relocating the creative functions of the ReadyMade brand and Parents.com to Des Moines.
Today’s announcement follows an earlier round of cuts in June, which saw 60 layoffs and the elimination of 60 open positions.