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2016: The Irony of the Hearst-Condé Nast Joint Venture Seeking Smaller Publishers As Clients - Publishing Executive


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"Last month, Condé Nast and Hearst Magazines announced the formation of PubWorx, a joint venture that will manage production, procurement, and circulation management for both publishers, as well as offer services to publishers across the industry.... Hearst and Condé Nast propose to sell services to the very publishers they have damaged, knowingly or unknowingly, over the years.

Magnet’s quarterly performance analysis indicates that the checkout publishers are the ones with the double-digit losses. Specialty and niche publishers are showing increases, and are successfully working to build readers profitably on the newsstand, and not subscriber bases.And another example, when Condé Nast and Hearst took over the management of Hearst’s national distribution arm I.C.D. and renamed it CMG, they soon shut down Eastern News, the pre-eminent distributor of specialty and niche magazines to retailers, forcing many publications to close or to enter into unfavorable distribution deals elsewhere. "

Sounds like a good deal.

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