Bath-based magazine publisher Future has blamed its £49m loss on too much acquisition and not enough organic growth, which is an interesting admission. The titles bought from Highbury House (see MagBlog passim) have been mentioned as particularly disappointing performers. (No wonder Kelvin MacKenzie gave up.)
To staunch the immediate flow of cash they have decided to sell off the Italian arm of the business and to renew focus on basic areas of the business.
CEO Stevie Spring outlined a six point plan for recovery: "focus on basics; focus on core; focus on audience; focus on geography; and to focus on publishing partnerships; focus on investment, particularly online."
This sounds to me like the advice any magazine journalism student should be able to parrot off by the end of their first week - write for the readers and foster the community.
Which just goes to show that some principles hold true at all times, in all places and on many media platforms. It's all about the readers.