Bauer Media has confirmed it will close weekly fashion title Grazia. The company confirmed the news late Thursday conceding that the womens's glossy was "not commercially sustainable in this market".
The company initially refused to confirm or deny the story following a report in the Australian Financial Review (AFR). However, after informing all commercial partners of the decision, the firm announced the weekly would close after four and a half years.
Bauer Media CEO Matthew Stanton said the decision was "difficult and disappointing and praised staff for delivering "a 100+ page glossy fashion magazine to the same high standards as a fashion monthly".
“Unfortunately, despite everyone’s best efforts... Market dynamics are not able to sustain Grazia’s weekly format.
“Bauer and Mondadori have therefore reluctantly concluded that Grazia is not commercially sustainable in this market.”
Editor Amy Molloy will continue to write for Bauer Media titles. The firm said it would try to find internal roles for other Grazia staff.
The announcement follows figures released this morning by the Audit Bureau of Circulation. The figures show plummeting circulation across women's magazines. Grazia had been particularly hit, with a 24% drop off.
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