New York (CNN Business) Family Circle, the monthly home magazine for women that launched in 1932, will close after its December issue publishes.

Meredith MDP Parent companyacquired Family Circle from publisher Gruner + Jahr USA in 2005. The magazine has 13 million readers and more than 1 million followers on social media, according to Meredith's site . The company said the magazine has a circulation of 4 million.

Meredith spokesperson Art Slusark told CNN Business that about 70 employees out of Meredith's 6,000 employees were laid off on Wednesday, including about 25 staffers from Family Circle.

A copy of Family Circle

Some of the leadership at Family Circle will take on new roles at other Meredith-owned brands. Slusark said that Meredith plans to add more than 200 jobs in digital, video, consumer marketing and e-commerce as part of the $50 million strategic investments the company announced at its earnings call last month.

twin TV hosts Drew and Jonathan Scott of HGTV series "Property Brothers" in January 2020. This move to shut down Family Circle is among a slew of recent changes Meredith has made to its portfolio of magazine brands after acquiring Time Inc. in 2018. Meredith sold off some of its acquisitions from Time Inc., including Time Fortune and Sports Illustrated , but has kept women-focused brands like Real Simple, Martha Stewart Living and Southern Living. Earlier this week, Meredith announced it will launch a new lifestyle magazine with the identicaltwin TV hosts Drew and Jonathan Scott of HGTV series "Property Brothers" in January 2020.

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