If the owners of Newsweek were hoping that 2011 was going to be a turnaround year for the struggling magazine, the latest figures from the Publisher’s Information Bureau on magazine advertising for last year show exactly the opposite.
For the full year, ad pages at Newsweek were down 16.8% versus a 3.1% decline for the magazine industry as a whole. Newsweek had total ad pages of 745 in 2011 compared to 1,370 at its main competitor, Time, which was off by just 2.5%, widening the gap between the two publications.
But even though Time’s ad pages were down they still managed to increase their ad revenue from 2010 by 1.5% to $419 million, while Newsweek’s ad revenues declined 11.7% to $140 million.
The results, after nearly a year with high profile editor Tina Brown in charge, only underscore the tremendous challenge she and the new owners of Newsweek faced in trying to turn around a magazine that had been bleeding red ink for years but whose previous owner, The Washington Post Co., couldn’t bear to pull the plug on the liberal newsmagazine.
But that’s what they should have done and that’s what Barry Diller and company should do before Newsweek drags the rest of the company with it into a financial abyss.
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About Don Irvine
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That’s exactly what I say. Jerry Cox, is your mother’s name Patty. You shouldn’t be in the news business if you don’t print it all without bias. You should supply the news and then let everyone form their own opinion rather than trying to tell them what they should be thinking.
Well Newsweek had the entire story of PATCON, the FBI involvement in the Oklahoma City bombing, Clinton Department of Justice activity and the criminal cover-up work of Eric Holder in the Kenneth Trentadue murder. Tina Brown had the entire story and BUTCHERED IT beyond recognition so as to not “inconvenience” her political party and leftist friends. It is a story which could have brought her magazine back from the brink, given it worldwide respect and interest. But political ideals and agenda took precedence.
So don’t let the door hit you on he way out of your Chapter 7 shambles of a building, Tina. But after all, you’re STILL a beloved, card-carrying, member-in-good-standing of the far left. Maybe your banker will loan you something on THAT! And if it happens to be Barney Frank, odds are he (she) will!!!
The turn of the 20th Century brought the demise of the Buggy whip.
The turn of the 21st Century is bringing the demise of news print media.
The overrated slimy liberals won’t even support their own propaganda rag.
obama exonics killing media magazines, one by one, who is next on the X list?
You tipped too far left and now your falling. You remind me of the person who does the exact same thing again and again and each time expects different results. Losers. Good riddance.