Bauer Media Australia is shuttering eight magazines including fashion titles Harper’s Bazaar, Elle and InStyle.
The publisher, which was recently acquired by Mercury Capital, cited the impact of COVID-19 on the advertising market.
It temporarily paused the titles in May during nation-wide lockdowns.
“It has been a challenging time for Bauer and our team with exciting highs and devastating lows in recent months,” says Brendon Hill, Bauer Media AUNZ CEO.
“We were delighted to acquire Pacific Magazines in May and were thrilled to recently announce a new future under Mercury Capital.
“However, these positive changes have taken place amidst an unexpected, uncertain and unrelenting economic downturn. No one could have anticipated the swift, widespread and ongoing impact of the pandemic on our business and industry.”
This report first appeared in our sister title AdNews.