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Just as magazines really started crawling their way out of the recession, the hole beneath them might have opened right back up.
Throughout the downturn, packaged-goods giants like Kraft and Unilever, which are less susceptible to bad economic times, have continued buying advertising and have as a result propped up publishers. But those companies have slashed spending in the first quarter of 2011.
Titles at Time Inc., which publishes Real Simple and Cooking Light, and Meredith Corp.,
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