WWE Magazine Shuts Down
Large staff reductions follow poor Q2 report.
WWE Magazine is ceasing publication after 30 years in print.
The news follows a poor second quarter earnings report for ownership group, WWE, that resulted about 55 job cuts across the company. Approximately 14 of those cuts were magazine staff, according to a source familiar with the situation.
"Out internal operations for WWE Magazine have ceased," the company says in a statement. "We will look at both domestic and international licensing opportunities moving forward."
As a whole, the pro wrestling producer reported a net loss of $22.5 million through the first half of 2014, down from an $8.2 million profit last year. Revenue increased slightly to $281 million. Slowing subscriber adoption to the group’s newly-launched streaming network contributed to the down quarter.
WWE Magazine’s closing sits at the crossroads of two major trends. While the shut down of a print product doesn’t come as a surprise anymore, the move comes as brand journalism continues to grow.
Its final issue will be released Sept. 16. WWE Kids and WWE Specials will also shut down.