Haymarket is to close Media
Week magazine, with a third of its media magazines’ staff under
threat of redundancy. Eighteen jobs are set to go with the closure of MW after 25 years, as Lord Heseltine’s
business restructures its marketing, advertising and trade
new cuts follow 50 jobs slashed at the publisher last
Haymarket’s pre-tax profits almost halved from £8 million in 2007 to
£4.5 million in 2008 and some analysts have said its earnings in 2009 will see
an even worse fall.
Chairman of Haymarket Business Media Martin Durham has said its titles
have “suffered” during the downturn.