I wish I could tell you when these kinds of stories will end. Another media giant has come up with another survival strategy that we can only hope will prove to be a success.
Newsweek has come to the realization that it can no longer compete with all of the other forms of media out there AND continue to publish a newsweekly that will be read in wide circulation. It is planning to stop trying to weigh in on every major story of note during any given week, and instead focus on offering more indepth and analytical coverage of broader topics. In other words, it will try to compete against the Atlantics and New Yorkers of the world instead of against Time and daily newspapers.
As a result of the move, Newsweek expects to shed about half of its readership, but hopes it is left with its most loyal and most affluent customers still in the fold.
You can read the New York Times' take on the changes here.
tick... tick... tick... sigh.