Martha Stewart Living Omnimedia is folding Whole Living, the magazine it acquired for about $6 million only six years ago. The New York Post reports that MSLO was in talks to sell the money-hemorrhaging publication to OpenGate — owner of TV Guide — but no deal could be made.
In the end, Whole Living was just too costly for OpenGate to take a chance on it. The Post claims the magazine was losing an average of $4 million a year.
As a result of the shuttering, Alanna Stang, editor-in-chief of Whole Living, and 15 editorial staffers will be laid off. Its last issue will be January/February.