Vermont Life Is Shutting Down After 72 Years

One of America’s longest running regional magazines will soon produce its final issue.

Unable to find a buyer for 72-year-old Vermont Life, the state’s Agency of Commerce and Community Development announced Thursday that it will cease printing the quarterly magazine after its summer issue.

Vermont Life‘s status as a state-funded publication had made its future a subject of debate over the past year, with state lawmakers estimating that it ran an annual deficit of around $400,000. The state sought proposals for a sale last September, but officials said they elected to maintain ownership after finding none of the offers to be satisfactory.

Vermont Secretary of Commerce and Community Development Michael Schirling said the decision to then shutter the magazine was made after its most recent fiscal report made it clear that continuing operations would require expanding Vermont Life‘s $3.5 million in debt.
more at: http://www.foliomag.com/vermont-life-is-shutting-down-after-72-years/

Related Posts

Colorado Springs Weeklies Are Set To Make A Comeback (mediapost.com)

Two weeklies based in Colorado Springs are set for relaunch only a couple of months after being closed. Business partners J.W. Roth and Kevin O’Neil have acquired the rights to publish the Colorado Springs Independent and Colorado Springs Business Journal. The partners have formed a for-profit business, Pikes Peak Media Company, to produce the titles.

Print Unit Sales Rose 7% at the End of August (publishersweekly.com)

Unit sales of print books rose 7.1% in the week ended Aug. 29, 2020, over the comparable week in 2019, at outlets that report to NPD BookScan. Backlist titles continued to drive growth in the juvenile nonfiction category, which posted unit gains of 39.7% over the week ended Aug. 31, 2019. Big Preschool Workbook remained the top title in juvenile nonfiction, selling more than 26,000 copies. A couple of Brain Quest titles by Lisa Trumbauer had big sales jumps in the week, including Brain Quest Workbook: Kindergarten and Brain Quest Workbook: Grade 1, which landed in the fifth and sixth spots, respectively, on the category bestseller list; the two sold about 20,000 copies combined. His Truth Is Marching On by Jon Meacham was the top new release in the week, selling more than 38,000 copies. It was #1 on the adult nonfiction list and helped to drive up sales in the category by 4.3%.

U.S. Postal Service Reports Fiscal Year 2023 Results

The U.S. Postal Service today announced its financial results for the 2023 fiscal year ended September 30. The net loss totaled $6.5 billion, compared to net income of $56.0 billion for the prior year. The net income last year was due primarily to the one-time non-cash impact of the Postal Service Reform Act (PSRA) in April 2022 and the results this year were significantly affected by the impact of inflation on operating expenses. Results under GAAP include retiree benefits expense for the amortization of underfunded Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) plans, and workers’ compensation expenses caused by actuarial revaluation and discount rate changes, as well as the impact of the PSRA for the same period last year. The Postal Service reports its adjusted results excluding these costs. Total operating revenue was $78.2 billion for the year, a decrease of $321 million, or 0.4 percent, compared to the same period last year, as package revenue increases were offset by mail revenue declines. Revenue for the overall Shipping and Packages category increased $324 million, or 1.0 percent, on a volume decline of 175 million pieces, or 2.4 percent, compared to the same period last year. Marketing Mail revenue decreased $920 million, or 5.8 percent, on a volume decline of 7.7 billion pieces, or 11.4 percent, compared to the same period last year. Total operating expenses were $85.4 billion for the year, an increase of $5.8 billion, or 7.3 percent, compared to the same period last year.
Back To Top
×Close search
Search