Covid-19 devasted Cosmopolitan publisher AMP closes shop, forever
Independent media house Associated Media Publishing (AMP) is shutting down for good, announced its CEO Julia Raphaely on Thursday.
AMP will permanently stop selling and publishing Cosmopolitan, House & Leisure and Women on Wheels on Friday.
Raphaely’s mother, Jane, founded the company in 1982.
The unexpected and devastating impact of Covid-19, causing the closure of printing and distribution channels, the global halt on advertising spend as well as the inability to host events for the foreseeable future, have made it impossible to continue trading, despite large amounts of personal funds having gone into AMP.Statement by Associated Media Publishing
This is the most difficult decision I have ever had to make… We never thought this day would come, but we are left with no choice.Julia Raphaely, CEO - Associated Media Publishing
It’s tragic… For many women, it was basically The Bible… There’s a social and financial impact…Chris Botha, MD - Park Advertising
They had 900 000 readers… They hosted 15 events per year… but the market itself is just so tough. It’s indicative of what’s to come…Chris Botha, MD - Park Advertising
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