Cleo Australia tipped to fold by Easter

It has been reported that Cleo Australia will be closing by Easter.

The magazine launched the careers of  Today co host Lisa Wilkinson and media empire owner Mia Freedman.

Media icon Ita Buttrose and the late Kerry Packer, father of James Packer, launched the magazine in 1972 which, according to Mamamia founder Mia Freedman was very important to girls her age and was effectively an institution back when it was its most popular.

According to Ita Buttrose, the management was opposed to Cleo prior to its creation, and it almost didn't get off the ground as a result, however Buttrose pushed for it, so it did.  It helped her launch a very fruitful media career, which is still going.

The magazine is likely to close following declining sales.

The writing was possibly on the wall when owner Bauer announced last year that the Cleo editorial staff would be merging with those of Dolly magazine.

It is a sad day for the magazine industry.  Unfortunately people do not buy magazines like they used to, instead opting to get their information on social media and the traditional media outlets have not caught up with the times.

They have also not provided value.  Reports suggest that Cleo was reducing the amount of Australian content and Ms Freedman said that Cleo was not the same magazine that it was when she was growing up.

Cleo is not the first publication of Bauer's that has faced troubling times, announcing the closure of Zoo late last year.

There is no word yet on what this means for Cleo NZ.