Haymarket to close Media Week as part of wider restructure

Haymarket Publishing is to restructure its marketing and advertising trade titles and close Media Week.

Media Week will cease publishing immediately after 25 years, although Haymarket will hold on to its website and awards portfolio, according to reports.

The closure will result in 18 editorial jobs being axed and put a further 58 roles at risk in Haymarket’s Brand Media group.

Revolution will also be reduced from a monthly publication to a quarterly supplement within Marketing magazine under the restructure.

The publishing group today launched a consultation with the affected editorial staff.

“We will do everything we can to keep job losses to a minimum, and we are looking to redeploy affected staff in other parts of the group,” Jane Macken, the managing director of Haymarket Brand Media, said.

Martin Durham, the managing director and chairman of Haymarket Business Media, added: “We, like other media owners, have been hit by a combination of a severe advertising downturn and unprecedented structural change.

“Our proposed restructure consolidates our marketing communications brands into a stronger and more integrated portfolio that puts them into a commercially sound position well-placed for the recovery.”

A new editorial structure at Brand Media is expected to be in place from January, which will involve a central group of reporters to cover Campaign and Marketing, as well as the magazines’ websites, which all come under Brand Republic.

Haymarket said Brand Republic will undergo a redesign early next year.