The once iconic title joins a grim parade of media titles that have been clobbered by the downturn in digital ad revenue.
Tom Florio, Paper’s publisher, and editor in chief Justin Moran, had only recently attempted to reinvent the magazine as a leading voice in the queer community. In January, Paper put British Vogue editor in chief Edward EnninfulFlorio, a former top executive at Condé Nast, purchased the then-influential glossy in 2017 from cofounders and coeditors Kim Hastreiter and David Hershkovits, who started the magazine in 1984 as a monthly print product.
But like so many other digital publications, Paper was severely impacted by the decline of social media-fueled page views and the consequential ad revenue shortfall. Sources say Moran will remain until the end of May to shepherd Paper’s final cover through production. Neither Florio nor Moran responded to requests for comment.
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