TEN Publishing is closing 19 of its 22 automotive magazines
by the end of 2019, Folio: reported, citing a memo sent to staff by MotorTrend
Group president and GM Alex Wellen.
The company
will continue to publish and print MotorTrend, Hot Rod and Four Wheeler, Folio:
reported.
Automobile,
Muscle Car Review, Truck Trend, Vette and Mustang Monthly are among titles
to be shuttered.
“I know this
is difficult news, but I want to assure you that we remain committed to you and
your pursuit to deliver quality automotive storytelling and journalism across
all of our content platforms,” wrote Wellen in the memo.
“Tens of
millions of fans visit MotorTrend’s digital properties every month, with the
vast majority of our consumption on mobile, and 3 out of every 4 of our
visitors favoring digital content over print.”
The group
will continue to offer audiences digital coverage for the discontinued print
titles online, the memo said.
The memo mentioned
a voluntary separation program for staff, Folio: said.
MotorTrend
Group is a Discovery joint venture with GoldenTree Asset Management, with Motor
Trend Group being a portfolio company for GoldenTree.
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