Hachette Shutters 'Home'

Hachette Filipacchi Media just announced that it's shutting down Home magazines. It's easy to see why: The title was down 30 percent in ad pages year-over-year in the first half of 2008. That'll pretty much do it.

Other closures this year include Condé Nast's House & Garden and Hearst's Quick & Simple.

Here's the statement from Jack Kliger, Hachette's soon-to-be-former CEO:

"It is difficult to close a magazine, particularly when it means that some of our colleagues' positions will be affected. I want to thank the very talented editorial and sales teams for years of hard work and dedication to this brand. The current economic environment is difficult, and the mid-market home sector has been particularly hard hit. When the middle market recovers, we will consider future publication of HOME using the special interest publication newsstand model."