TV Week publisher Bauer Media will temporarily suspend print editions of some of its magazines and run as online editions, during the COVID-19 pandemic.
70 staff have been made redundant and a similar number will be stood down.
It has not named the titles impacted.
The announcement came just hours after the publisher announced the 2020 Logie Awards would not go ahead.
Bauer Media is also locked in discussions with the Seven Network to purchase its Pacific Magazines arm -due to be completed on Friday.
Other Bauer titles include Woman’s Day, Women’s Weekly, NW, Take 5, OK! magazine, Good Health & Well Being and Empire.
CEO Brendon Hill told staff: “These are unprecedented times. The COVID-19 crisis and the strict measures being taken to control it are having a profound impact on the Australian economy and any business that operates in it. This has led to a sharp decrease in advertising revenues in Australia over the short term and we have had to reshape our organisation accordingly.”