Magazines Feeling The Pinch

Oct. 27 2008, Published 7:07 a.m. ET

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Just how tight are things getting in the wonderful world of print magazines? Well, Portfolio (a magazine that itself is rumored to be in trouble) has confirmed that Hearst is shuttering Cosmogirl. will remain a Web destination, while the magazine's subscriber base will be folded into Seventeen's. A funny bit of minutiae: publisher Vicki Wellington will become publisher of something called Food Network Magazine, set to roll out in 2009. Evidently, the only way to launch a print product these days is to tie it to a TV network that already has a built-in ad network! (Whether the Food Network Magazine will be able to take advantage of its biggest star Rachael Ray remains to be seen, as Ray already has her own magazine.)

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