(Associated Press) Martha Stewart Living Omnimedia Inc. is downsizing its magazines and will cut publishing jobs as it increasingly focuses on online video and other digital content.
The lifestyle, media and merchandising company said Thursday that the move could save it $33 to $35 million per year. It did not say how many employees are being eliminated, and a message was not immediately returned.
Martha Stewart will stop publishing its monthly Everyday Food magazine as a standalone publication, instead periodically wrapping it into the company’s flagship Martha Stewart Living magazine. It will make Everyday Food content available on the company’s website, a YouTube channel and through a daily video newsletter.