Yahoo to Shut Down 7 of Its 11 Digital Magazines
What: Yahoo is shuttering of 7 of Its 11 Digital Magazines: Yahoo Food, Health, Parenting, Makers, Travel, Autos and Real Estate.
Why it matters: The company is planning to focus on its’ four remaining verticals: News, Sports, Finance and Lifestyle, after a rough 2015.
Yahoo has been going through a rough patch lately. Two weeks ago we reported about Yahoo's Q4 2015 revenues as well as about CEO Marissa Mayer's new turnaround plans. Now, the tech and media giant has announced the shuttering of 7 of Its 11 Digital Magazines: Yahoo Food, Health, Parenting, Makers, Travel, Autos and Real Estate.
The move is aimed at simplifying the company's business model while focusing on its’ four remaining verticals: News, Sports, Finance and Lifestyle, according to Adweek.
"While these digital magazines will no longer be published, you will continue to find the topics they covered as well as style, celebrity, entertainment, politics, tech and much more across our network," said Yahoo's global editor in chief Martha Nelson in a statement.
Although the shuttering means Yahoo will save US$400 million a year, unfortunately, it also means many people are being or have already been laid off.
The “Digital Magazines” were created as part of an initiative brought by Yahoo's CEO Marissa Mayer, to create unique Yahoo properties that could compete with premium brands online.