1. IPC Media is to close Nuts magazine, in the latest sign that weekly magazine publishing is struggling to make ends meet in an increasingly digital age.
The company confirmed to us today that 25 jobs are to be made redundant - a statutory 30-day consultation period is underway.
Paul Williams, MD of IPC’s Inspire division, says: “After 10 years at the top of its market, we have taken the difficult decision to propose the closure of Nuts and exit the young men’s lifestyle sector. IPC will provide impacted staff with all the support they need during the consultation process.”
Soon after it launched in 2004, Nuts magazine became a phenomenon, selling more than 300,000 copies a week. Along with its rival Zoo, it created an entirely new magazine sector - the weekly lads’ mag, full of boobs, sporting trivia, gross-out pictures and terrible jokes.
In the last half of 2013 it sold 53,000 copies an issue, a drop of 33 percent year on year. It wouldn’t take that long at that rate of decline to get to 0.