Big name advertisers like Gap and Ralph Lauren are pulling back on their print ad spending, and so big name media outlets like Hearst have been forced to tighten things up.
According to WWD, various Hearst brands have been asked to cut back on their budgets and hiring at the company has ground to a halt.
“We’ve had a great first half following a great 2014 and 2015,” Hearst Magazines president David Carey told WWD. “But we’re watching the state of American retail with some concern.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in