No more Condé Nast magazine closings, says CEO

Condé Nast president and CEO Chuck Townsend says the decision to close Gourmet magazine was because it had less potential for strength and long-term growth than its sister food title, Bon Appetit. He told Jason Fell at Folio: that no more magazines were to be closed.

He said the McKinsey consultants weren’t tasked with determining which magazines to shut down, but rather to concentrate on the “businesses with the strongest potential for growth for the long term.”