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Four years ago, David Bradley, the chairman and sole owner of the Atlantic Media Company, came up to New York from Washington, D.C., to have dinner at The Carlyle with Justin Smith, who was then president and publisher of The Week. Bradley was desperate. For eight years, he’d been trying to staunch the flow of red ink at what was then called the The Atlantic Monthly, only to see the losses increase (one year, to more than $10 million).

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