Whither magazines?

Three people I respect a great deal now lead the big magazine companies: David Carey (ex Condé) at Hearst, Bob Sauerberg at Condé, and now Jack Griffin at Time Inc. — and I'll add Justin Smith at Atlantic.

It's a big challenge to head a magazine company these days (witness the sales of Newsweek and TV Guide for a buck each). Circulation is plummeting; costs are soaring; advertising competition is killing.

But I still say that magazines have unique value in media as the centers of communities ...