Saying it has decided to focus on its “strongest brands,” Quebecor Media’s TVA Publications unit announced today it is closing six magazines: 150 plans, Animal, Décormag, Le Lundi, MOI&cie and Signé M.
The compay said the strategy would enable it to provide stronger support to its flagship titles, which include 7 Jours, Coup de pouce, Canadian Living, ELLE Canada, Style at Home and The Hockey News.
In a release, the company said the move would provide stronger support for the remaining brands and enable them to “grow and thrive” in their respective markets.
“The move will enable advertisers to target their desired audiences even more effectively in order to achieve their business objectives by taking advantage of our portfolio of 60 titles,” said TVA Publications in a release.
Lucie Dumas, vice-president and publisher, magazines group at TVA Publications, said the company would maintain a “strong presence” in key verticals including fashion, home décor, cooking and entertainment in order to meet the needs of readers and advertisers.
The company said it remained “fully committed” to print magazines as a core vehicle in its business strategy, wile continuing to develop its brands on digital platforms. TVA Publications boasted more than 10.8 million readers across all platforms, according to the recent Vividata survey, including 3.2 million multi-platform readers for its French-language titles.
Quebecor Media subsidiary TVA Group acquired 15 magazine titles from TC Media last year for $55.5 million, saying it expected them to contribute between $10 and $14 million in annual earnings.
