Premiere, the magazine for movie lovers, is shutting down. Hachette Filipacchi Media, which publishes the 10-times-a-year title, is expected to announce the decision later today.
While rumors about Premiere going under have circulated for years, Hachette has always insisted it was too valuable as the linchpin of a network of global editions. (Though the French version of the title was the first, appearing in 1975, the U.S. edition, started in 1987, supplies much content for overseas editions.)
But last month, the New York Post reported that Hachette, which is owned by French media conglomerate Lagadere, was looking to sell the title. Evidently there was not much interest—no wonder, as ad pages in 2006 were down nearly 25 percent from the previous year.
UPDATE: Sources at Premiere say employees have been given one day to clear out their desks. Also, Hachette will reportedly retain its small online staff.