MediaBuyerPlanner: Newsweek has cut its rate base by 500,000 copies, bringing guaranteed paid circulation to 2.6 million.
Ad revenue for the magazine fell 3.8 percent through September, compared with the same period last year, while ad pages dropped 8.5 percent, according to the Publishers Information Bureau (via BtoB).
Rival newsweekly Time also saw declines, with ad revenue down 17.3 percent and ad pages down 5.8 percent. Time cut its rate base from 4 million to 3.25 million earlier this year.
The rate base cut follows a management shake-up announced last week, with Viacom cable executive Thomas E. Ascheim named CEO, succeeding Rick Smith, who will remain on as chairman. In October, Newsweek unveiled a new design, which included more room for content.
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• ‘Newsweek’ Redesign Includes More Room for Content
• Top Three Newsweeklies Suffer, Others Soar in First Half
• Wall Street Editor of ‘Newsweek’ Leaves to Seek ‘Fortune’
• Changes for ‘Time’ May Mean Good News for ‘Newsweek’

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