Jim Impoco, editor-in-chief of Newsweek, revealed to The New York Times today that the magazine will return to producing a print edition. The news is a positive sign at a time when the magazine business is declining. Just days ago, New York magazine reduced publication from weekly to biweekly.
However, subscribers will have to pay more than in the past, according to Impoco. The magazine’s goal is to rely on subscriber revenue more than advertising.
Last year, Newsweek ceased its print edition under the ownership of Tina Brown, formerly of the Daily Beast. Newsweek is now owned by IBT Media, whose first issue was released in early October.
Impoco is quite optimistic about the decision, saying that negotiations with printers and distributors are underway to bring the costs of print publication down. He states the cost will be lower than when the magazine was previously printed. Impoco hopes for the circulation to be at least 100,000 in the first year.
Since taking over the failing publication, Impoco has hired over two dozen employees and is looking to produce more international coverage.
After years on a downward slope, it appears Newsweek will be making a comeback under its new ownership.