Hearst and Cond Nast Joint Venture Seeks More Publishers to Join

With long-term trends exerting downward pressure on magazines' ad-page sales and newsstand appeal, two of the industry's biggest publishers said last week that they had formed a joint venture to handle back-office operations such as production, procurement and circulation.The competitors and now collaborators, Cond Nast and Hearst Magazines, hope not only to cut their own costs but to attract other publishers as customers as well.If it's a somewhat surprising move, bearing some potential for conflict, it reflects the challenges facing magazines. Newspaper companies have long made similar pacts, shrewdly, to consolidate print and layout operations, said Rick Edmonds, a media business analyst for The Poynter Institute. Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2016-02-11 00:00:00 UTC ]
News tagged with: #joint venture #cond nast #surprising move #newspaper companies #poynter institute

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