fashion-memopad
fashion-memopad

Memo Pad: More Changes at Condé Nast... New Role...

Changes at Condé Nast continued Tuesday morning.

fashion-memopad/news

WAIT, THERE’S MORE: Changes at Condé Nast continued Tuesday morning: Steven Deluca, publisher of Details since April 2008, was pushed out as the men’s title was moved under the purview of senior vice president and publishing director Bill Wackermann. Lucy Kriz will remain as Details’ associate publisher and will report to Wackermann. Deluca was notified late Monday afternoon he was being let go.

The move should put to rest rumors that Details would be closed after Condé Nast folded four unprofitable magazines Monday: Gourmet, Modern Bride, Elegant Bride and Cookie. Speculation over Details’ future, as well as that of other Condé Nast titles, flourished as McKinsey & Co. was hired to advise on how to prune the firm’s unprofitable magazines and position it for growth. Details has seen its fashion and luxury advertising base decline during the crippling ad recession. Through October, ad pages fell 34 percent, to 627, while its larger sibling, GQ, saw a 32 percent drop in ad pages to 886. Details’ circulation has remained flat over several years at about 425,000, or about half that of GQ’s. Details now publishes 10 times annually after the magazine stopped producing an additional holiday issue last year.

However, Wackermann was positive about Details’ future, saying the title has a place at the company given its younger audience and edgier editorial voice. He also said editor in chief Dan Peres was the right man to steer the magazine into 2010. “I am honored to be involved with Details again, and the opportunity to work with Dan Peres. The market needs Details’ edgy and smart edit. There is nothing else like it,” said Wackermann.

And more changes at Condé Nast lie ahead. While 180 employees are exiting the building this week after the closures Monday, more are expected to follow suit as the remaining magazines finalize their 2010 budgets. Editors and publishers are charged with cutting their spending by as much as 25 percent by whatever means they choose — including job cuts, some of which could happen as soon as this week. — Stephanie D. Smith

 

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