The circulation of Newsweek and Time magazines now stands at 1966 levels, the New York Times reports Monday in an article entitled ”Newsweek on the Block.”
The paper detailed the agonizing descent of Newsweek. Its parent company, the Washington Post, announced Wednesday that it is up for sale.
Newsweek was launched in 1963 and has vied with rival Time for dominance in the weekly magazine space.
Key items from the Times report:
• "Newsweek’s circulation was 3.14 million in the first half of 2000. By the second half of 2009, that dropped to 1.97 million. Time’s circulation declined from 4.07 million to 3.33 million in the same period."
• "Newsweek had operating losses of $28.1 million in 2009, 82.5 percent higher than the previous year’s loss of $15.4 million."
• Newsweek editor Jon Meacham “said that he was considering putting together investors to buy the magazine, and that he had received voicemail messages from two billionaires after the sale was announced.”
To read the full New York Times report Go Here Now