Fred Pierce Leaves Wizard Entertainment

Newsarama has learned that President and COO of Wizard Entertainment Fred Pierce has been let go by the company.

Pierce, who previously worked at Valiant Comics, was brought in to the company to serve as its President by founder Gareb Shamus in 1994, and oversaw editorial content of the magazines as well as Wizard’s convention business.

The move (which is seen as cost-cutting by observers) is the latest in what seems to have become a steady stream of layoffs, departures and shifts within the company structure over the past two to three years. The business is soon to move to a new building as well, something also cited as a cost-cutting measure.

With Pierce’s departure, insiders report that Gareb and his brother Stephen Shamus are running the day to day operations of the business.

Like many magazines, Wizard has seen a decrease in circulation over the past few years, and now reportedly sells under 50,000 copies into the direct market, with a subscription base reportedly in the 40,000s.

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