Facing declining advertising pages and the need to emphasize “digital, mobile and video platforms” over print, the company said that it will stop selling Everyday Food as a standalone monthly publication. Rather, subscribers to the monthly Martha Stewart Living will receive an Everyday Food “supplement” five times a year, and more of its content will be available online starting next year. MSLO will try to sell Whole Living, but if it can’t find a buyer its content will be folded into Martha Stewart Living.

The New York Times‘ Media Decoder blog reported that 70 MSLO employees, out of about 600, are being laid off: “Employees at Martha Stewart Living have not been able to return to work this week because Hurricane Sandy flooded the basement of their downtown offices. As a result, many of them learned of layoffs by phone and e-mail.”

MSLO expects the combined changes to save $33 to $35 million annually. The company also announced a handful of digital initiatives: a new PBS show, “several exciting new digital video series made for the web” and more apps.

“As a whole, MSLO’s total digital audience has grown an average of 20 to 25 percent year over year every month since January 2012,” president and CEO Lisa Gersh said. “Following a careful evaluation of our media portfolio, we are responding to clear trends we are seeing across the industry to give our consumers what they are telling us they want: more video, more of the inspiration, solutions and expert advice and how-to content our brands offer in digital formats, across more platforms and on a more frequent basis.”