Last night TV person Jon Stewart asked Newsweek editor John Meacham, "Who is making money in the magazine business who does what you do? Who is a successful model?" And you can guess what Meacham said: "The Economist." Okay so, this is something we have heard for years now, from everyone, and it became a huge joke, and guess what? Maybe there's only room for one The Economist! Maybe your weirdly redesigned, money-losing magazine ($500,000 a week!) isn't The Economist! Which, by the way, despite its charms, isn't the only kind of magazine in the world! And which, you know, other magazines are not really being, either [...]
Editor Jon Meacham talks to the Observer about the sale of Newsweek: "We have to figure out what journalism is going to be as the old business model collapses all around us. And I want to be–I want to try to be–a part of that undertaking. Will it work? Who the hell knows. But I'm at least going to look at this." He did not exactly go on to reveal a business plan. Also, he is not returning his voicemails from billionaires. We know you've had a busy morning, Jon, but it's not 1985, buddy!