First, big newspapers, now another print magazine on the rocks. This is the changing of the guard. Analog vs. digital. Atoms vs. bits.
“Advertising is down, circulation is down, there are alternatives like the Internet where people are getting their information”, said Richard Mikels, a partner with law firm Mintz Levin. “It’s a tougher industry than it used to be.”
It will only get worse. Online advertising revenue for media entities is not as prosperous as print and broadcast advertising revenue used to be.