Gourmet Magazine closing

Yes,Gourmet Magazine is closing expectedly by the end of this year. According to its Publisher Condé Nast, Gourmet magazine which was introduced in 1940 and has accumulated over nearly 70 years of publication will be shut down. Foodies were very saddened by the news. The cause is decline in the magazine's ads revenue.

Even though many fans enjoyed flipping through the glossy pages, popular food shows on television and online sites eroded the magazine's advertising revenue.

"The magazine industry is in a difficult position generally speaking, it's losing revenue to online advertising and it's a tough business right now," said Richard Dorfman, managing director of Richard Alan Inc., a financial advisory and investment company focusing on the media industry.

In addition to Gourmet magazine, parenting magazine Cookie and wedding magazines Elegant Bride and Wedding Bride, will also be killed, Condé Nast said.