Kennedy Brainchild 'George' Folds
N E W Y O R K, Jan. 4 -- George magazine, founded in 1995 by the lateJohn F. Kennedy, Jr. to be a reservoir of pop culture and politics, is folding. The magazine’s final issue will hit newsstands in March as a tribute to Kennedy.
The announcement was made today by Jack Kliger, president ofHachette Filipacchi Magazines, a division of the Frenchconglomerate Lagardere SCA. The magazine’s 39 staffers will receiveseverance packages.
Kliger said Hachette had put “well over” $10 million into themagazine over the past year and only anticipated the losses to riseas the advertising market softens. “I deeply regret this decisionbut it is unavoidable,” Kliger said.
Hachette faced a dilemma over what to do with George magazine,which was already struggling when Kennedy died in a plane crash inthe summer of 1999, since closing George right away could haveseemed disrespectful so soon after Kennedy’s death.
Hachette ended up taking full control of George that fall,buying out the half-interest it didn’t already own from the Kennedyestate and installing former Money magazine editor Frank Lalli atthe helm.
Circulation Rose, Ad Dollars Sank
Even though circulation rose some 25 percent over the past year,Kliger said the poor response from advertisers, combined with aslowing economy and worsening advertising climate, made a decisionto close the magazine inevitable.
Kliger also acknowledged in an interview, however, that themagazine’s close association with its late founder also played arole in making a relaunch of the publication a difficultproposition.
“There was a product that went out beyond John, but theadvertisers had always associated it with John Kennedy,” Kligersaid. “It was a political/lifestyle magazine, but we had a hell ofa ghost to always be compared to.”
Even before Kennedy’s death, readers and advertisers had oftenpuzzled over George’s unusual premise of combining celebritycoverage with serious political issues. Despite a considerablerevamp under Lalli, the response from advertisers was poor.
Popular Reads
ABC News Live