Magazine publisher Conde Nast has hired consultancy firm McKinsey & Co to help it rethink its business, according to an announcement earlier this week.
The move follows CN’s closure of several titles, including Portfolio and House & Garden in the US, as well as staff cuts, reports Daily Finance.
“One pernicious side effect of Conde Nast’s complacence has been its lackadaisical approach to the web. Believing its businesses were less vulnerable to web-driven audience erosion caused Conde to under-invest in digital,” writes article author and former CN employee Jeff Bercovici.
The publisher has dissolved its men’s style portal, however, and is looking to set up individual websites for GQ and Details.