I’m not one of the people triumphantly cheering on the decline of the press, but this logic made me laugh:
Jon Meacham admits it is hard to explain, even to his own people, why chopping Newsweek’s circulation in half is a good thing.
That step — along with a redesigned, revamped publication that hits newsstands today — may well determine whether the 76-year-old newsmagazine survives. Newsweek will concentrate on two things — reporting and argument — while kissing off any recap of the week’s developments.
Time has been gravitating in that direction as well. But Newsweek, owned by The Washington Post Co., is accelerating the process because it is bleeding red ink, losing nearly $20 million in the first quarter. Newsweek, whose circulation was as high as 3.1 million in recent years, plans to cut that to 1.5 million by the beginning of 2010, in part by discouraging renewals. The magazine will begin charging the average subscriber about 90 cents an issue, nearly double the current rate.
Maybe this makes more sense to people in the know, but I think halving your circulation is a terrible idea, period.