MEDIA
03/18/2010 05:12 am ET Updated May 25, 2011

Conde Nast May Lose $1 Billion In 2009

After months of speculation, the carnage came to Conde Nast earlier this week. The company, one of the nation's three biggest magazine publishers, announced it would close four magazines, including Gourmet, one of the industry's most iconic publications.

A NEWSWEEK analysis of industry data provides new evidence of the financial toll that drove that decision: based on estimates of publishing data, Conde Nast could see its ad revenue drop by $1 billion in 2009.

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