Newsweek Remains Positive Despite Layoffs, Operating Losses
A week after Newsweek cut a dozen editorial staffers, The New York Times has profiled the newly revamped weekly pub.
The big question on everyone’s minds seems to be whether or not the redesign and rate base cut that was unveiled over the summer, touted as the saving grace for the struggling magazine, delivered as promised. The recent layoffs, though not as big as last year’s the Times says, seem to point towards the negative. And the recently reported $4.3 million loss in third-quarter operating revenues is not very promising.
But when sitting down with the Times, Newsweek‘s CEO Thomas E. Ascheim put on a brave face. “It’s been a disgusting economy, in case nobody else noticed,” Ascheim said, adding that “we expect to operate less in the red” in the coming year.
Even the Times seems to be drinking the Koolaid, reporting that “the bottom line looks, if not good, then a little less bad than it did earlier this year.”
We hope things are turning around for Newsweek. If that’s really the case, it might become a model for other weeklies to follow, before they all fold completely or pare down their print schedules.
Glimmers of Progress at a Leaner Newsweek –New York Times
Earlier: <a href="http://www.mediabistro.com/fishbowlny/the_revolving_door/a_dozen_out_at_newsweek_142996.asp?c=rss"A Dozen Out At Newsweek
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