The Dundee-headquartered media group has announced significant changes to its overall portfolio of titles, along with a simplification of its underlying structure.
Around 300 jobs – nearly 20% of its overall workforce of 1,600 – will go as a result.
A spokesperson commented: “We are resetting DC Thomson’s media business to focus on high growth, and sustainable growth. We will be closing some Dundee-based magazines including Living, Platinum, Evergreen, Shout, Animals & You and Animal Planet.
“All print titles acquired from Colchester’s Aceville will also close. All our flagship brands remain integral to our future.”
DC Thomson acquired Colchester-based Aceville in September 2018. The business publishes 35 consumer and B2B magazines with the majority focused on crafting, lifestyle and food, and education.
Printweek understands that most of the Aceville titles are printed at William Gibbons.
Walstead Group prints some of the other titles that will close, including Platinum, Shout, and Animals & You.
Rebecca Miskin, CEO of its media business, said the changes were necessary for the business to thrive in the future, “and to respond to the difficult economic environment we are in”.
“The transformation strategy already in place was addressing these fundamental industry shifts, but the need to change has been massively accelerated and magnified by the current economic crisis.
“We will focus on specific connected and purpose driven communities which enjoy the biggest potential for deep audience engagement and long-term growth. We are strengthening and building the skills that will be vital [to] deliver this.”
An industry source commented: “This is a massive hit. You would think at least some of those magazines must make a profit.”
Flagship DC Thomson titles include newspapers including The Courier, Aberdeen Press & Journal, and The Sunday Post; while its core magazine portfolio includes The People’s Friend, Beano, My Weekly, Stylist and the Puzzler Media range of puzzling magazines.
The flagship magazines are printed by Prinovis, Walstead Group and PCP.
Printweek also understands that DC Thomson’s Discovery Print printing operation in Dundee, which prints the group’s own newspapers as well as titles for third parties, is unaffected by the restructure.
The announcement caused outrage at the National Union of Journalists, which said members were angry at the shock news, after the family-owned group had paid out a huge dividend to shareholders.
Nick McGowan-Lowe, organiser at the NUJ’s Scottish Office, said: “These are brutal cuts, and we will robustly defend the jobs of our members. Our members are furious both with how the company has handled these redundancies, and because they are seeking to make £10m cuts across the business after paying out £24m in dividends to shareholders last year.
“The jobs of hard-working journalists should not be sacrificed to pay the price of extravagant shareholder profits.”
DC Thomson posted sales of £174.1m in the year to 31 March 2022.
