Haymarket is closing the print edition of Media Week with the axing 18 editorial jobs.
Media Week will continue as an online brand under the control of a full time editor according to Haymarket, and it will draw on the resources of an enlarged team on the publisher’s Brand Republic media news website.
Haymarket plans to continue to run the Media Week Awards, the Media 360 conference and other events.
Under other changes announced today monthly title for those involved in online marketing, Revolution, is to go quarterly.
And online-only brands Marketing Direct and Promotions & Incentives are to be integrated into Brand Republic.
As a result of the changes 18 out of 58 editorial positions at the Brand Media division of Haymarket are to be cut.
Managing director and chairman of Haymarket Business Media Martin Durham said: “It’s no secret that the advertising, commercial media and marketing communications sectors have been hit by the economy and our brands, although they are leaders in their fields, have suffered too.
“We, like other media owners, have been hit by a combination of a severe advertising downturn and unprecedented structural change.
“Our proposed restructure consolidates our marketing communications brands into a stronger and more integrated portfolio that puts them into a commercially sound position well-placed for the recovery. We will continue to provide the best and most comprehensive coverage of the marketing communications sector in print and online.”
Jane Macken, managing director of Haymarket Brand Media, said: “We will do everything we can to keep job losses to a minimum, and we are looking to redeploy affected staff in other parts of the group.
“I would like to place on record my appreciation of the efforts of all our editorial staff. Throughout a very difficult time they have continued to produce editorial content of exceptionally high quality.”
Media Week was bought by Haymarket from Quantum Business Media in May 2005. At that time Quantum also owned Press Gazette, which was subsequently sold to Matthew Freud and Piers Morgan as part of the Quantum break-up.
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