Future, the Bath-based media group, is set to axe six of its titles and cut its freelance budget as the coronavirus pandemic devastates sales of print magazines.
The group’s Official Xbox Magazine, which it has published for nearly 20 years and at one time was among its flagship titles, is understood to be one of the publications being closed down. The names of the other five have not been disclosed. 
Future, which publishes around 140 online and magazine titles ranging from TechRadar and PC Gamer to Classic Rock and FourFourTwo, said it was consulting with affected staff.
It has introduced measures to keep the numbers of lay-offs to an absolute minimum, including significant pay cuts for its board, executive team, and senior managers, it added.
Last month Future said it believed it could overcome any impact on the business from the coronavirus outbreak and was continuing to trade “robustly”, with its diversified strategy working well.
At the time it said it had seen limited impact on its digital revenues and, while there had been declines in the travel outlets in the magazine portfolio, year-on-year growth in grocers was partly offsetting this.
It added that it had implemented “some profit protection measures” due to the increased volatility.
Earlier in March it announced it had postponed The Photography Show and The Homebuilding & Renovating Show at the NEC in Birmingham and a number of smaller events.
This week a Future spokesperson told trade title Press Gazette: “Like many organisations right now, we find ourselves being forced into making difficult decisions.
“After a review of our overall magazine portfolio, we are proposing to close a small number of our brands and are consulting internally about what this means for the few colleagues impacted.
“While we do not feel it appropriate to talk about individuals, laying off talented colleagues is always a last resort.
“Out of respect for that process, we don’t feel we can go into any more detail at the moment.
“Whilst the decline in retail footfall impacts our magazine business, we are well placed with significant digital audiences and diversified revenues to continue delivering on our customers’ changing needs at this time.”
It said it had temporarily reduced its freelance budget “in some areas” on a temporary basis and insisted its commitment to “quality content” remained.
A spokesperson added: “We continue to strongly invest in all brands with both in-house and outsourced expertise.
“During this unprecedented time we have made the decision to temporarily reduce freelance expenditure in some areas but no brand or vertical has entirely lost its freelance budget. We have no doubt that our brands will continue to return market-leading results.”
