Emap Closes Face After Failing To Find Buyer
Emap has shut down The Face after failing to find a suitable buyer for the veteran style bible, which has been credited with helping to define the sounds and styles of the last three decades.
The media group said it had received a number of approaches for the title from publishers and venture capitalists, but that none had developed into a bid that could prevent the closure of the title almost 25 years after its launch.
The last issue of The Face was published two weeks ago featuring singer Kelis and Outkast star Andre 3000 on the cover. The magazine is understood to have incurred heavy loses over the last year as circulation dipped to just over the 40,000 mark, down from a peak of 113,000 in its heyday in the mid-nineties.
Emap said in a statement released today: “We would like to thank editor Neil Stevenson and his team for all their efforts on the magazine. It is Emap’s intention to retain the best creative talent from The Face within the company.”
Emap will retain ownership of The Face brand, allowing for a possible revival of the title in the future. The company is currently in talks with the magazine’s fifteen editorial staff in an attempt to find them roles elsewhere in the group.
The Face was placed under review last month after a series of editorial changes and redesigns failed to reverse the magazine’s waning fortunes. The title has been hard hit by increasing competition from the likes of Dazed and Confused and IPC’s iD magazine, which have cannibalised its readership (see Emap Confirms J-17 To Close And Face Suspended).
Emap launched The Face in 1980 and has been credited with defining styles and sounds of the last three decades with cover stars such as Kate Moss and David Beckham. However, its popularity dipped following the rise of the celebrity phenomenon, which inspired a raft on new launches and further dented the magazine’s sales.
New of the closure comes just weeks after by Emap Performance announced plans to cut a number of jobs across its radio and music magazine business as part of an ongoing strategy designed to increase profit margins (see Emap Performance Restructures To Cut Costs).
Emap: 01733 568 900 www.emap.co.uk
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