Bauer Media Australia, the country’s biggest magazine publisher, has announced it will close eight of its brands – including Elle and Men’s Health – due to the impact of the coronavirus pandemic.
The publisher said that Harper’s Bazaar, Elle, InStyle, Men’s Health, Women’s Health, Good Health, NW and OK! would be axed.
The publication of most of the titles had been temporarily paused in May due to “the significant impact of travel restrictions on transit-reliant titles” and the drop in advertising revenue supporting the others.
“The reinstatement of these titles and teams was always dependent on the advertising market bouncing back and the return of domestic and international travel,” Bauer Media ANZ head Brendon Hill said in a statement.
“Despite promising signs from advertisers in recent weeks, this has not outweighed the medium term outlook for these titles.”
The chief executive officer said that the publisher would “lose valued editorial, sales and production staff” without specifying how many jobs will be lost.
On Friday, Hill announced that Bauer New Zealand would “resume publishing immediately” following its acquisition by investment firm Mercury Capital, which also completed the acquisition of the Australian arm of the company on July 15 following regulatory approval.
The New Zealand portfolio will include current affairs weekly NZ Listener, founded in 1939.
In April, Bauer Media Australia had purchased its fierce competitor, Pacific Magazines, for $40 million (US$27.5 million), which saw it gain 14 Australian and New Zealand magazines.
The German family-owned publishing conglomerate, headquartered in Hamburg, entered the Australian market in 2012 after buying ACP Magazines for half a billion dollars.