This is not a good time to be in publishing.
A very reliable source has just called me with the news that the plug has been pulled on ACP Media New Zealand’s “online home of Fashion Quarterly” Runway Reporter. ACP acquired the site in September 2006, a mere six months after it had been started by New Zealand’s venerable fashion-reporter-turned-pony-book-author Stacy Gregg.
UPDATE: This was just emailed to me from a source within ACP Media:
“They (ACP management) told Fiona Hawtin (editor of Fashion Quarterly) yesterday afternoon and told [the rest of the staff] this morning…Runway reporter is closing very soon in the next couple of weeks. It was a financial decision, they are cutting all the acp websites…cleo, metro, taste etc 8 people were made redundant over the company. Chloe De Ridder has been made redundant and it is believed Megan Bedford will be staying on as featured ed of Fashion Quarterly.”
An employment lawyer told me this morning that along with ACP, Fairfax and APN were having major problems and it looked like we could expect some more mass redundancies over the next few weeks.
UPDATE: 10/12 12:30pm I contacted ACP Media’s Auckland head office at approx 10am this morning for a comment and they’re yet to return my call.