Domino dancing with Conde Nast
April Fool’s Day is still a few months away, giving magazine publisher Conde Nast some time to pull a few practice gags. The latest is its decision to kill Domino magazine — days after appointing a new chief to run it.
Here’s the press release, sent on Wednesday:
Domino magazine will cease publication, it was announced today by Charles H. Townsend, President and CEO of Condé Nast. The final issue will be published in March 2009.
“This decision to cease publication of the magazine and its website is driven entirely by the economy,” Mr. Townsend said. “Although readership and advertising response was encouraging in the early years, we have concluded that this economic market will not support our business expectations.”
Domino was launched in April 2005. The magazine’s current ratebase is 800,000.
It is one of the latest “shelter” magazines — titles dealing with the home — to go under. (Kind of ironic, really, when so many people are spending more time at home because they can’t afford to go out anymore.)
Things were different not so long ago, the New York Observer reported earlier this month:
Back in November, CEO Chuck Townsend, in a statement through a spokeswoman, conceded that there were problems at the magazine: “Ad revenue is off at Domino like it is across the industry, but the magazine is way ahead of our original plans to circulate it in the marketplace.”
Some other reports said at the time that appointing a new “publishing director” to oversee the publisher was a sign that Conde Nast had enough faith in the magazine to keep it alive.