I worked at InfoWorld when InfoWorld was still a print pub. The print side died when I was working there, and we were the 1st IDG pub to go full online-only. It was rough, to say the least. I don't envy the small core team that will stay behind. the print pub often over-inflated the value of the online offering. Once that piece is lobbed off, the remaining team eventually gets whittled down to a skeleton crew. It can be profitable, but margins are thin and cost-cutting is everywhere.
All good things for any business to do, but it can also be a massive change in culture and morale.
I also worked at AFAR, the travel pub. Getting online mags to profitability is no easy task. And print mags can cost a fortune. When print ad dollars go elsewhere... well, you can see what's going on.
I'm close to someone in the industry, but honestly you don't have to be to see the decline if you look for it.