Discontinues its licensing arrangements with effect from forthcoming issues of these magazines
BestMediaInfo Bureau | Delhi | July 26, 2013
Just a week after the closure of Crest, weekend edition of The Times of India, Outlook has announced the closure of its three international titles – People, Geo and Marie Claire.
An official statement sent to BestMediaInfo.com read, “Outlook Publishing (India) Pvt. Ltd. wishes to inform its readers that it is discontinuing its licensing arrangements with People, Geo and Marie Claire magazines with effect from the forthcoming issues of these magazines.”
“Outlook, its promoters and management, however remain fully committed to all other Outlook Group magazines, which will continue to be published in the normal course,” said the statement.
When asked about the reason behind the development, Indranil Roy, President, Outlook Group, said, “It has nothing to do with profitability. It’s our business call not to continue with the titles.”
Roy declined to comment on the fate of people working with these magazines and said, “We don’t have anything to say more than our press statement at this stage.” However, according to informed sources, more than 100 people employed in these three magazines have been asked to go, Friday, July 26, 2013 being their last working day.Own BestMediaInfo Android app for fastest updates and breaking news. Click here to download for free.