In a difficult advertising climate, one Conde Nast title scores

The advertising environment among print publications is particularly brutal - but as Conde Nast announced closures of four titles, one of the company's magazines proved that it can score big.

The worldwide recession that has gripped every sector and household in America can be better characterized as a full-on depression for those publishers who still rely on print-oriented advertising dollars to keep the lights on. The downturn has been particularly difficult for Conde Nast, as the publisher houses numerous luxury titles and several niche titles that overlap among audience interests. Conde Nast announced on Monday its intention to close four of its magazine titles - including Gourmet. However, as any publishing conglomerate knows, variety can often offer agility - as Conde Nast's New Yorker magazine demonstrated against the company's broad magazine portfolio. Bucking the downward trend in print advertising, the New Yorker will unleash a full ad buy-out from HSBC in the October 12 issue. The HSBC investment is estimated at $1 million and represents the New Yorker's largest single-issue ad buy since 2005 when Target Corporation made a similar move. Senior management at the New Yorker believe that the HSBC buy signals a turn-around in the advertising business. "I think the HSBC buy could be a signal of a turn-around," Lisa Hughes, vice president and publisher of The New Yorker told Forbes. "We had a strong September, and I think advertisers are feeling like it's settling down a bit,"