Some said I was off base when I wrote the magazine industry wouldn’t catch on to the new ways of media. Some laughed when I said the magazine industry will more or less fall the way of the music industry. That they’ll complain about everything, blame everyone else for falling revenues, and loss of customer interest, and worse yet….fail to recognize the possibility that new and better models might be available for their brands (remember Tower Records before the introduction of the iPod and iTunes store?)
Well it looks like some in the magazine business are going back to a tried and true thoroughly tested marketing plan of generations past. It’s putting their magazine on sale and from what I can tell, is far below the coveted subscription rate. The magazine is being sold for just $1.00 . Yes that’s right, just a buck. But don’t expect to find the current issue on the news stand for that price. We’re not talking an actual issue. We’re talking the …..wait for it………Whole entire company! Yes folks, the iconic brand NEWSWEEK…was sold this month for a buck. Had I known that was possible, I might have offered 2 Bucks …..well …..maybe not. Why pay for anything than no one is buying, but I digress.
Here’s a headline that I feel even NEWSWEEK could find humorous. The same year they run a cover story stating “We’re All Socialists Now” the company gets sold for just $1.00, and sold to the husband of a sitting US Senator.
You gotta love the irony of truth can be stranger than fiction.