Newsweek Is Having An Identity Crisis
It would seem that Newsweek CEO Tom Ascheim and editor-in-chief Jon Meacham’s decision to turn the magazine into a lower-circulation (dropping from 2.6 million to 1.5 million) weekly is not exactly proving to be a profitable one, despite massive restructuring throughout the past year.
According to Newsweek‘s parent Washington Post Company‘s fourth quarter earnings report, the company’s magazine unit, made up solely of Newsweek and Budget Travel, experienced a loss of $29.3 million in 2009. Budget Travel lost a reported $1.2
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