Time Inc. suspends Time Style & Design

Time Inc. has "suspended" its Time Style & Design fashion quarterly. It comes on the eve of Fashion Week in New York. The reason given? The collapse of the luxury market in the current recession.

"This really is a suspended publication," said a spokeswoman of the one million-circulation magazine. "We'd hope to bring it back when the economy improves."

According to a posting by Keith Kelly in the New York Post, Kate Betts, the one-time editor-in-chief of Harper's Bazaar who had been serving as the editor of Time Style & Design, will remain with the company and is expected to cover the fashion shows for Time. Four other staffers were let go.

Time Style & Design was unusual because it tried to circulate simultaneously (and pursue advertising) in the U.S. and Europe. About 550,000 subscribers were based in the US; 450,000 in Europe.