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So Much For ‘No Closures’ at Condé Nast

It is just a bad news Monday, y’all.

Condé Nast is closing four mags as part of its attempt to trim 25% from its budgets, after analysts (and sources inside the company) theorized that there would not be any title closures.

The victims: Gourmet, which has been published since 1940; Cookie, Modern Bride, and Elegant Bride.

Gawker’s got the internal memo, which we’re excerpting here:

We have now completed an extensive review of our business – an important undertaking given the dramatic changes in the U.S. economy. The review has led us to a number of decisions designed to navigate the company through the economic downturn and to position us to take advantage of coming opportunities.

Condé Nast’s success comes from the ability of our publications to attract readers with a wide range of interests, as well as advertisers who value them. But in this economic climate it is important to narrow our focus to titles with the greatest prospects for long-term growth.

In the memo, CEO Chuck Townsend thanks the “editorial and business staffs” of these four titles for “their hard work and dedication” and in the next graf goes on to talk more about “workforce reduction.” So sorry, folks.

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