India’s prominent magazine publisher Outlook Group has recently taken a bold decision to shut down three of its publication. The magazines naming People, Geo and Marie Claire were brought to India by the group through franchise agreement that now has been terminated.
In a statement released on Friday, Outlook Publishing (India) Ltd (OPIL), announced that it would be terminating its franchise agreements in India with People, Geo and Marie Claire, all of which would cease publication after issues in press were printed and delivered.
The Outlook decision comes just days after India’s biggest media group, Bennett, Coleman and Co Ltd., publishers of The Times of India, announced that it would shut down its weekend magazineCrest, after less than four years of trying to meet the demand for long-form journalism.
Outlook also publishes magazines in the news and current affairs, business, money and travel segments, all of which have been reportedly facing financial issues on account of a contraction in advertising support.
Employees of People magazine have subsequently approached the labour court in Mumbai city and obtained a stay on the closure decision, pending a full settlement of dues for all those at risk of retrenchment. It is assumed that the stay will be applicable to all three magazines, whose employees number over sixty.
The aggrieved employees have argued that companies often fail to settle dues that are owed, once they shut down operations and lay off workers.
The International Federation of Journalists (IFJ) supports all the staff of the three magazines in their effort to get a fair settlement of all dues owed.
“We extend our solidarity to all partners and affiliates in India as they seek to cope with a media scenario that is rapidly turning adverse, on account of a contraction of advertising spending in the Indian economy”, said the IFJ Asia-Pacific.