Pinching Forbes

The New York Times reported today that even Forbes is feeling the squeeze of the economy.
While Forbes magazine has 920,000 subscribers, its average issue price has steadily decreased and its ad pages are down 15 percent in the first quarter compared to last year.
The article reports Forbes has stopped matching contributions to its 401k program, laid off roughly 100 of its 1,000 employees since November and started five-day unpaid furloughs for its staff.
In the story, Mark M. Edmiston of AdMedia Partners asserts Forbes isn't worth half the $75 million its worth has been estimated in the past.
Yet the Times reports that Forbes' misery isn't without company, with the Publishers Information Bureau listing revenue of over $338 million for Forbes, $276 million for Fortune and $236 million for BusinessWeek.
The story shows the recession is impacting both people's demand for Forbes' economic content and its employees' desire to cover it. From the story:

“Everyone here likes the magazine, the people who run it, and most of us believe in the mission,” said one editorial employee who asked not to be identified because he was not authorized to speak with a reporter. “But that sense of mission is sort of hard to sustain when most of the news is bad. Capitalism is a less sexy topic for everyone, including us.”

View the story here.

Is covering capitalism less sexy for you? What do you think about the struggling of Forbes and its competitors? Comment and let use know.

Beyond the big guns

The New York Post highlights business-themed magazines that are sometimes overshadowed by big players like Fortune, BusinessWeek and Condé Nast Portfolio.
Here's a sampling from their report:

• Black Enterprise: The magazine, which focuses on the rich and soon-to-be-rich, has almost 1 million readers and is one of publishing's great success stories, according to the report. It recently got a makeover and includes stories on politics, business and news. For example, the magazine covered the $11.6 million award to Anucha Browne Sanders, who won a sexual harassment settlement from Knicks Coach Isiah Thomas.

• Dealmaker:The New York Post says Dealmaker is a magazine for investment bankers who want to read about great they are and how much society loves them. The magazine recently featured Tom Perkins, 75, who still buys $500,000 cars and yachts.

To read the full report click here.