F+W Responds to Magazine Closings, Layoffs
President says company remains ‘committed to these markets.’
FOLIO: first reported yesterday F+W Publications’ shuttering of five of its hobbyist magazines in its Krause Publications division. "The value proposition in magazine print-relative to other media-wasn’t as evident anymore," magazine division president David Blansfield said Thursday.
"Thirteen people were affected by the shuttering of these titles, and we’re considering reassignment of staffers when and where possible," Blansfield wrote in an e-mail to FOLIO:. "I think it needs to be emphasized that we’re a diversified media company-and we remain committed to these markets."
The shuttered titles include Antiques and Collectibles Journal, Comics & Games Retailer, Toy Cars & Models, Toy Shop and Vintage Motorcycles.
"These publications are small, niche titles and unfortunately the economics of today’s media environment don’t work in their favor," Blansfield continued. "But these are vital communities, and we continue to serve them through broader titles with books and through e-media and events."
F+W purchased Krause Publications in June 2002 for $120 million.