Confirmed: 'Newsweek' Circulation to Drop

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Mixed Media

by Jeff Bercovici

Main

Idle Chatter: Seinfeld, Hillary, 'Fa... Fox's Wallace Jumps the Gun on Bias ...

Nov 2 2007 8:51AM EDT

It looks like that Newsweek circulation chop I told you about two weeks ago is on the verge of going public. Ad Age reports the No. 2 newsweekly is telling advertisers that its rate base, or guaranteed minimum circulation, will fall from its present 3.1 million to 2.6 million, a 16 percent reduction. As usual, the culprit named is rising postal rates.

A year ago, Time cut its rate base by even more -- 19.5 percent -- but still managed to stay a hair above its rival, at 3.25 million.

It's been a big month for Newsweek. First, there was that under-the-radar redesign of the magazine, and a somewhat more aggressive makeover of Newsweek.com, which has split off permanently from MSNBC.com.

Then, earlier this week, CEO Rick Smith stepped down, touching off a round of management deck-shuffling.

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