With the end of Future Publishing's fiscal year fast approaching on November 24, and the news not expected to be good, the company's chief executive Stevie Spring and chief financial officer John Bowman have resigned.
"The recent restructuring which positions the company for its digital future has allowed the Board this opportunity to achieve substantial savings by eliminating an entire tier of corporate overhead," Future said in a statement. The company's stock has dropped 60 percent this year.
The company ominously announced late last month that it was "considering a wider range of strategic options in respect of its US operations." Future US's magazine business currently includes all three official console magazines, PC Gamer and Best Buy's @Gamer. The company stated in July it plans to take the US to a primarily digital model.
Reader Comments (16)
Posted: Oct 28th 2011 4:32PM houstons85 said
Man, it's going to be a sad day when Playstation: The Official Magazine no longer arrives in my mailbox every month.
Love that rag.
Love that rag.
Posted: Oct 28th 2011 4:33PM AceManUSC said
Ouch. I think I contributed to this when I didn't renew my Xbox magazine. I found it was just a waste of money since I was getting all my gaming news from here.
Posted: Oct 28th 2011 4:34PM King Johngie the Fourth said
"by eliminating an entire tier of corporate overhead."
You don't hear that often. Times must be REALLY tough over there.
You don't hear that often. Times must be REALLY tough over there.
Posted: Oct 28th 2011 4:53PM Bronze Brad said
Future has no CEO, or CEO has no Future?
Posted: Oct 28th 2011 5:11PM arkweld said
Future US barely publish what I would call a magazine. Over the years they've got thinner and thinner with more ads, more content being put online before the magazine hits the stands and more items in the magazine saying "check out our Web site for more!"
No, put it in the magazine. That's why I bought it.
Put a Future US publication next to a Future UK publication and it's a joke. You're lucky if you get 90 pages in a US mag.
No, put it in the magazine. That's why I bought it.
Put a Future US publication next to a Future UK publication and it's a joke. You're lucky if you get 90 pages in a US mag.
Posted: Oct 28th 2011 5:15PM DethLocke said
The only place I see gaming mags anymore is here at work. I'll pick up the new issue and skim through, only to see news I read weeks ago online. The magazine format just isnt viable anymore as a news source. Yeah, you can make it so you can only read this review in the mag, but thats just going to drive consumers to online reviews even more.
The magazine business is done.
The magazine business is done.
Posted: Oct 28th 2011 7:48PM Electrium said
@DethLocke
I think you're speaking a little too broadly - Future is just on publishing company that doesn't understand what to do with their publishing process in a digital age. Magazines aren't dead - in fact, many are thriving on tablets, but that's because they're changing.
I subscribe to Wired, and they take a much more editorial / journalistic approach to content. You really never know what you're going to get when that mag shows up in your mailbox, but you can bet they took time to research sometime and talk to people that matter regarding a given subject. The content has value, and that's what makes Wired so good even in a digital age.
The reason Future is failing is because their content has neither value nor relevance. They offer the same news as everywhere else with overly biased writers and a slower pace - what do they expect?
Reply
I think you're speaking a little too broadly - Future is just on publishing company that doesn't understand what to do with their publishing process in a digital age. Magazines aren't dead - in fact, many are thriving on tablets, but that's because they're changing.
I subscribe to Wired, and they take a much more editorial / journalistic approach to content. You really never know what you're going to get when that mag shows up in your mailbox, but you can bet they took time to research sometime and talk to people that matter regarding a given subject. The content has value, and that's what makes Wired so good even in a digital age.
The reason Future is failing is because their content has neither value nor relevance. They offer the same news as everywhere else with overly biased writers and a slower pace - what do they expect?
Posted: Oct 28th 2011 5:21PM garbagejuicer said
I recommend Retro Gamer from the UK. The subscription was expensive, but worth it imho due to the quality of the mag.
Posted: Oct 28th 2011 6:28PM hami83 said
That's print media for you. These guys should've pushed digital magazines through the IOS store and Amazon.
Instead you have people sticking to a dying medium.
Is it sad print is dying? Yes, a little. But the future is the future, deal with it or get out.
Instead you have people sticking to a dying medium.
Is it sad print is dying? Yes, a little. But the future is the future, deal with it or get out.
Posted: Oct 29th 2011 3:45AM mike260 said
@hami83
Actually they do digital versions of everything they print.
Problem is, they're *awful*. I tried out the iPad edition of Edge recently, and it was a load of static images you pan around. No intelligent zoom, no links, not even a functioning table-of-contents, just a bunch of dumb jpegs (half) baked into an app. When the copy I purchased mysteriously disappeared from the device, I tried getting it back, failed, and was secretly *grateful* I wouldn't have to finish ploughing my way through the damn thing.
Reply
Actually they do digital versions of everything they print.
Problem is, they're *awful*. I tried out the iPad edition of Edge recently, and it was a load of static images you pan around. No intelligent zoom, no links, not even a functioning table-of-contents, just a bunch of dumb jpegs (half) baked into an app. When the copy I purchased mysteriously disappeared from the device, I tried getting it back, failed, and was secretly *grateful* I wouldn't have to finish ploughing my way through the damn thing.
Posted: Oct 28th 2011 7:18PM GuruGuru214 said
Well, crap. At this point, I think my best hope is for Nintendo to take Nintendo Power back from Future US.
Posted: Oct 28th 2011 8:45PM themisanthrope said
Print is not dying. it is changing, and publishers who do not follow the changes will fail.
Posted: Oct 29th 2011 2:57AM tendoboy1984 said
If they shut down Nintendo Power I will rage. I grew up with that magazine. Official Xbox Magazing (OXM) was good too.






