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Haymarket Consider 'Eve' Closure

UK: Haymarket Media Group has entered into a consultation period with staff of women’s magazine Eve and some of its associated brand activities about the title’s potential closure.

Kevin Costello, Haymarket Consumer Media managing director, said: “The Eve team has worked tirelessly since we acquired the title over three years ago to create a brand that embodies the Haymarket values of quality and expertise. Despite these valiant efforts, Eve is making an unsustainable level of loss that is exacerbated by the recent ABC decline, the continuing strength of its key competitors and uncertain conditions within the UK economy generally.

“It is with great regret that we have had to consider closing the title. They are an extremely talented group of individuals and it’s a great privilege to work with them.”

The announcement follows a detailed review of the Eve portfolio by Haymarket, which led the company to conclude that as matters stand it is not feasible to continue the magazine.

This morning (4 Sept) Costello met with affected staff to inform them of the possible closure, that they are now at risk of redundancy and are formally entering a period of consultation. During this time, the management will explore ideas put forward by affected staff to lessen the impact of closing Eve.

Unaffected by the announcement is evecars.com, the future branding of which is under review. Eve licensees have also been informed and are developing local plans as appropriate to address these potential changes.

Out of respect to the employees affected by this announcement, Haymarket is declining further comment during the consultation period, which is expected to conclude some time in October.

None of the company’s other titles are at risk of closure.

Posted by Will Carleton
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