THE STREET.COM February 18, 2017. "What we're seeing in real time is the massive consolidation of the magazine industry," said Peter Kreisky, founder of Kreisky Media Consultancy. This long-term trend has accelerated due to the "economics of the industry," as print continues to lose advertising share to digital offerings dominated by Facebook (FB) and Alphabet's (GOOGL) Google, Kreisky continued. "They need to change the cost structure of these brands," he said, referring to publishers. By consolidating, magazine owners also can reduce the cost of business to "publish vibrant high-quality titles," as well as leverage each other's technology to better adapt to the digital age, Kreisky explained. It's important for them to find a home that will help them continue to produce superb content, he said. Another solution for the companies is to diversify with additional businesses, such as extending further into digital media, hosting consumer events or shows, creating apps, offering experiences and getting into e-commerce, according to both Kreisky and Phillips.