In the sad continuing saga of shelter magazines closing up shop, one of my personal favorites, ReadyMade, is folding, according to Ad Age.
The DIY magazine, which was bought by Meredith and moved to Iowa just two years ago, has been retired due to cost-cutting measures at the publishing company. Sadly, 75 people will be losing their jobs.
Meredith CEO Steve Lacy released the following statement:
"Positioning Meredith for continued growth requires periodic realignment of resources, including how we deploy our workforce. These actions will enable us to devote additional resources to key strategic growth initiatives, including digital platform expansion."
Lacy mentioned in an interview with CNBC last year that Meredith planned to acquire several more titles in 2011, potentially including Men's Health and Women's Health. All publishing companies have their priorities, especially in these revenue-starved times, but it's unfortunate that finding room to pay for ReadyMade's modest operating budget and skeleton staff was not in the cards.
I'm definitely saddened by this loss to the reading public. You can read a farewell letter from the ReadyMade team here.
ReadyMade, you will be missed.