Newsweek is opting to cancel its long-running presidential election series instead of embracing its increasing costs. The New York Times reports that the series — which features two teams of writers covering the presidential candidates for the year leading up to the decision — cost the magazine about $1 million, and that, in addition to people relying more on the Internet for information, prompted the cancellation.
Edward Felsenthal, the Executive Editor of Newsweek and The Daily Beast, said, “Sitting on election news felt to us out of place in an era where so much information comes out so fast.” Peter Goldman, the man who came up with the idea for the issue, said it made sense. “The cost of campaign travel has soared. It was expensive to do, and they’re looking at a lot of red ink,” explained Goldman.
Newsweek canceling this series is unfortunate. We highly doubt that we’ll ever get the quality inside account that those writers got from anyone else. Because the journalists’ tales weren’t published until after the election, the candidates often let their guard down, which lead to great moments. FishbowlNY’s favorite? When John Kerry was so annoyed by losing to George W. Bush that Kerry stated, “I can’t believe I’m losing to this idiot.” That’s the kind of stuff we’ll miss.