Between 2007 and the end of 2009, when Newsweek was still owned by the Washington Post Co., the magazine cut its total staff by 33%, according to Pew Research. Its revenues plummeted 38% in that three-year period, and losses continued after Newsweek was sold to Sidney Harman in 2010. Pew reports NewsBeast lost nearly $14 million in 2011.
“Newsweek’s overall circulation (single-copy sales and subscriptions together) plunged 50% over the span of 10 years,” says Pew. “Time, by comparison, saw a 22% decline in that time period.”