Weiss Communications Sells Indianapolis Woman Assets to Private Investor Group
Staff of 14 to be let go.
Weiss Communicationsâ€™ Indianapolis Woman, a regional closed circulation magazine reaching 150,000 readers monthly, sold its publishing rights in an assets deal to an Indiana-based private investor company. As a result of the sale, Weissâ€™ 14-person staff will be let go.
Weiss Communications, led by president/publisher/CEO Mary Weiss, purchased Indianapolis Woman in 1994. The May issue will be the last published by Weiss. At time of closure, the magazine has a monthly circ of 45,000.
Indianapolis Woman is Weiss Communicationsâ€™ only publication. The publisher launched sister publication St. Louis Woman magazine in 2006, which then folded in 2010.
John Weiss, VP of operations/director of digital media with Indianapolis Woman, tells FOLIO:, â€śThe expansion was ill-timed and we did not fully understand the market. This cost a great deal of money and created a distraction for our Indianapolis publication. We believe the St. Louis distraction affected our ability to transition Indianapolis Woman through a tough economy and changing advertising culture.â€ť
Weiss says the private investor group has requested to remain anonymous, but says, â€śEvery effort is being made to sell the magazine to a company that can continue where we began.â€ť