Magazine publisher Meredith sues IRS for $12 million refund (KCCI.com)

Dotdash Meredith is eliminating the print editions of six of the former Meredith Corp.’s most iconic magazines, including InStyle, Entertainment Weekly, Eating Well and People en Espanol, according to a report yesterday first published by the Wall Street Journal. The Journal said it obtained an internal memo from Dotdash CEO Neil Vogel in which Vogel told employees that the move would eliminate about 200 jobs, which represent less than 5% of Dotdash Meredith’s total staff. The other magazines being shut down are Health and Parents. “We have said from the beginning, buying Meredith was about buying brands, not magazines or websites,” Vogel said in the memo. “It is not news to anyone that there has been a pronounced shift in readership and advertising from print to digital, and as a result, for a few important brands, print is no longer serving the brand’s core purpose.”

Kohl’s announced a new partnership with WHP Global, the owner of the Babies“R”Us® brand, to bring baby gear, furniture, activity, and more to millions of growing families across the country, broadening the retailer’s reach with younger customers. The first Babies“R”Us shops will open in Kohl’s this August, with plans to roll out to approximately 200 stores in fall 2024. Customers will also be able to shop an expanded assortment of baby products on Kohls.com and take advantage of the Babies“R”Us at Kohl’s registry to easily build and share gift lists. “Evolving our assortment and bringing more relevant product to the millions of customers we serve is a core focus as we continue to deliver on Kohl’s broader growth strategy,” said Tom Kingsbury, Kohl’s chief executive officer. “We see significant opportunity in the baby gear category, and partnering with Babies“R”Us is another example of how we are finding new ways to optimize our assortment and further establish Kohl’s as the go-to brand for families.”

The Association of American Publishers (AAP) released its StatShot report for November 2021 reflecting reported revenue for all tracked categories, including Trade (Consumer Books), K-12 Instructional Materials, Higher Education Course Materials, and Professional Publishing. Total revenues across all categories for November 2021 were up 8.3% as compared to November 2020, coming in at $1.3 billion. Year to date revenues were up 13.1%, at $14.3 billion for the first eleven months of the year.