Corporate News: Newsweek Cuts Summer Issue
Washington Post Co.'s Newsweek will cut an issue this summer, a spokesman for the magazine said, in another sign of the deteriorating advertising climate for print media.</br></br>The 76-year-old weekly typically skips a week of publication around Christmas, the Fourth of July and in August, printing a double issue to cover each two-week period. This summer, however, Newsweek readers will receive two double issues in August, on top of the one in July.</br></br>The decision comes less than a month after Newsweek unveiled a redesigned magazine in a move to adapt to the changing preferences of readers and marketers, whose gradual shift away from print has accelerated during the recession. In the overhauled Newsweek, the publisher has dropped its focus on breaking news in favor of columns and narrative features.</br></br>Newsweek said it also is curtailing its guaranteed circulation to 1.5 million readers from 2.6 million and targeting a more highbrow audience, including Beltway insiders and policy wonks.</br></br>"We've moved away from the remedial model of current events," Newsweek editor Jon Meacham said in a recent interview.