Both the chairman and chief executive of Liberty Publishing, Mohamed Al-Fayed’s media operation, have left the company in the face of continued Punch losses.
The loss of Stewart Steven, chairman and acting editor of the recently relaunched title, and John Dux, chief executive, come as Punch is rumoured to have lost around £13 million since its relaunch in September *Punch Relaunch Issue Review. Unofficial estimates put Punch‘s current circulation at around 45,000, barely more than when the magazine was first closed.
It is now thought likely that the magazine will either close or become a quirky Harrods’ customer title.
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Liberty Publishing: 0171 225 6722
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