Sunday, June 27, 2010

No More Newsweek

I never read it anyway.

"Money-losing Newsweek is for sale" by New York Times | May 6, 2010

NEW YORK — The Washington Post Co. is putting Newsweek magazine up for sale, raising questions about the publication’s future and whether the newsweekly format has a place in today’s media market....

If it lying MSM, nope.

Donald E. Graham, chief executive of the Post Co., said the decision was purely economic.

“Newsweek’s been a very important part of our company since the early 1960s — I did not want to do this, but it is a business,’’ he said. “We will lose money in 2010,’’ he said of Newsweek, though he declined to estimate how much, and “we don’t see a sustained path to profitability.’’

Related:

That's why you guys are cratering.


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Newsweek lost $28.1 million in 2009, compared with a loss of $15.4 million a year earlier.

Newsweek’s circulation has been on a downward trend. It was 3.14 million in 2000; by 2009, it was 1.97 million.

Also see
: Globe, newspapers across US see circulation fall

Following in their footsteps.

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Related:
The No-Day a Week Globe

Yeah, they are headed that way here.