From Ad Age:

U.S. News & World Report, the longtime No. 3 weekly news magazine, is dropping to a biweekly frequency starting next year, effectively ceding its troubled category to larger rivals Time and Newsweek.

All three traditional newsweeklies have already taken steps such as cutting paid-circulation guarantees as competition has increased and the news cycle has gone into hyperdrive. U.S. News has already trimmed its frequency to 36 issues this year from 46 last year. But the move to publish issues only every other week -- with additional specials on occasion -- provides the strongest signal yet that the ground has permanently shifted under the old newsweeklies.