Meacham and [Time editorial director Richard] Stengel Are Infatuated With The Economist



Apparently Newsweek Editor Joe Meacham is infatuated with The Economist. This reminds The Corsair of Ed Kosner's idea not so long ago of transforming the snoozy also-ran newsweekly US News & World Report into a sort of American version of The Economist, deeply analytical, targeting an elite audience. Such a journal, sorely lacking, would be an invaluable resource, able to command premium ad pages and revenue because of the median income and cultural influence of the readers. Of course, Kosner's grand scheme never quite worked out and he subsequently left the employ of the mercurial Mort Zuckerman in frustration.

Perhaps Newsweek will have better luck. From The Wall Street Journal:

"Newsweek could subtract anywhere from 500,000 to one million copies from its current guarantee of 2.6 million, according to people familiar with the magazine's thinking. That Newsweek is exploring a rate-base cut was first reported by the trade publication Folio.

"Recently, Newsweek has emphasized commentary on hot-button issues, such as gay marriage, by big-name journalists like editor Jon Meacham and international editor Fareed Zakaria, as well as contributions from political operatives and academics like Michael Beschloss and Sean Wilentz.

"Newsweek is seeking in part to mirror publications like the Economist, which has thrived in a tough market by focusing less on costly news gathering than on driving discussion of the day's issues.

"Mr. Meacham said recently that Newsweek has never been an objective summarizer of the week's events, or 'AP on nicer paper,' though he acknowledged a greater emphasis lately on editorializing. 'We are trying to be more provocative,' he said."

More here.