Conde Nast A publishing empire in crisis?

The Independent - London | July 29, 2009| | Copyright

The two tallest gleaming skyscrapers near the southern end of Times Square in Manhattan are home to despondent publishers. One is The New York Times; the other, Conde Nast. Last week, the glamorous magazine publisher released figures that revealed an accelerating decline in advertising: important September issues had lost between 15 and 50 per cent of ad pages compared to a year earlier; Vogue and Vanity Fair, once believed to be recession-resistant, had lost more than a third. The company, which went through a spate of magazine closures and cuts earlier in the year, announced it had hired ...

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