It comes as a sad shock that Bauer Media and Mercury Capital have made the decision to cancel eight of their iconic Australian publications. Harper’s BAZAAR, ELLE, InStyle, Men’s Health, Women’s Health, Good Health, OK!, and NW will no longer be operating, following the company’s announcement that publication is “sadly no longer viable”.
The group have confirmed that these titles, originally placed on hold during May, have now been permanently axed due to the ongoing pandemic and consequent decline of long-term advertising.
Bauer Media’s new owners have axed eight iconic magazines from the Australian market due to COVID-19 and the uncertain future of the media landscape.
“Whilst we were beginning to see promising signs short term, the market remains too volatile to confidently forecast the next 6-12 months,” the group announced in a press statement.
This news comes after German enterprise Bauer Media purchased the longstanding Pacific Magazines company in May. Following this acquisition, Bauer Media then sold the corporation to the Australian-owned Mercury Capital on July 15th: a company who apparently wasted no time in cancelling these publications.
Eight Australian magazines, including Harper’s BAZAAR, InStyle, Men’s Health and OK! have been axed following a sharp drop in advertising revenue during the coronavirus crisis. | By @lvitorovich https://t.co/txdrF2eg3w
— Australian Media (@aus_media) July 21, 2020
The closures will not only affect the 40 people who have directly lost their jobs, but also cause a significant knock-on effect to a plethora of freelance journalists, stylists, photographers, publicists, and hair and make-up artists within the industry.
“This is not just a media story, it’s a bigger story about fashion, culture and art and there now being less ways for Australian creative talent to be showcased and celebrated,” former editor-in-chief of Harper’s BAZAAR Kellie Hush told the Sydney Morning Herald.
The absence of these titles will certainly leave a hole in the hearts of all Australians. Let’s raise our glasses in memory of the juicy celebrity gossip, fashion trends, and fitness tips that came as a respite for so many.