The rise of the Canadian loonie against the dollar — one of the top news stories of the year — has caused tension between Canadian magazine consumers and American media companies. At issue is the growing disparity between the U.S. and Canadian cover prices as the dollar declines. The Montreal Gazette, in an editorial titled, ”A Rip-Off By Any Other Name,” says:
”One of the magazines the giant Hearst Corp. publishes is SmartMoney, which claims on its website to offer readers ‘practical yet highly imaginative ideas for investing, spending and saving.’
”Well, here’s a practical if not very imaginative saving idea for Canadian consumers, one SmartMoney’s editors won’t be suggesting: Stop buying Hearst magazines until the company stops treating us like fools.
”Hearst, like dozens of other U.S. companies that sell their products in Canada, has ignored the rise of the loonie against the U.S. dollar, and continues to charge inflated Canadian prices for such magazines as Cosmopolitan, Harper’s Bazaar and Esquire. Cosmo, for example, sells for $4.29 in the United States, $5.99 in Canada.”
That policy — at least in Calgary — is slowly changing, however, according to The Calgary Sun:
”Hearst Publications, which produces Oprah Magazine and Esquire, is one of those quietly dropping the U.S. price tag as the Canadian dollar hovers near par with the American currency.
”Company spokeswoman Jessica Kleiman said Hearst has become a ‘lightning rod’ for the policy, but added ‘most, if not all, U.S. magazines are doing the same.
“‘This was done at the request of Canadian wholesalers and retailers.”’
(image via clipart)