Summit Media of the Gokongwei Group said Thursday it is shutting down the print editions of its magazines to go fully digital.
Summit Media, the country’s leading magazine publisher, said in a statement posted on its website it would close the six remaining print editions of Cosmopolitan, Preview, YES!, Top Gear, FHM and Town & Country to complete its digital transformation.
“As we embark on our new journey towards a wholly digital future, we look back at the values that made us successful, and one thing that stands out is our respect for our audiences,” Summit Media president Lisa Gokongwei-Cheng said.
The company did not specify the number of magazine workers that would be affected by the digital transformation.
“Our brands, each with its own strong voice and well-defined identity, have resonated with our audiences because they stand for something, which is why for 23 years, Summit published the most successful and well-loved magazines in the country’s history,” Gokongwei-Cheng said.
“Today, we embrace the way our highly connected audiences now prefer to consume content. As we follow them from print to digital, we will continue our relentless pursuit and delivery of quality, up-to-the minute content and a dynamic and engaging editorial experience”•this time, aided by data, which now pervades and informs many of our editorial decisions,” she said.
Summit Media, formed in 1995, first published Preview. Since then, the company transformed into a publishing conglomerate managing 15 websites and social media platforms.
“Summit Media was born auspiciously in an era of pulp and ink. We will always owe a debt of gratitude to the medium, to the brilliant teams whose dedication and efforts created magazines that excelled in that landscape, to the generations of loyal readers who not only supported their favorite brands but even imbibed their tenets and values, and to our advertisers, without whose partnership with and belief in us we would not have succeeded,” Gokongwei-Cheng said.
“Moving forward and into the future, we are excited as we continue to reinvent ourselves to become an even more compelling destination in a digital era where opportunities abound,” she said.
