QUICK TAKES - Oct. 24, 2009
Fortune is embarking on an ambitious redesign of its business magazine, as a vicious advertising slump is forcing the publication to cut the number of issues published and ditch old standbys like CEO covers to become more competitive.
Fortune, a publication of Time Inc., said it would publish 18 issues a year, down from 25, starting in January.
The changes at Fortune come as other business publications have been under siege. Last week, Bloomberg bought the struggling BusinessWeek magazine for $2 million to $5 million in cash. Earlier in the year, Conde Nast Publications shuttered its Portfolio business magazine.
Fortune, hoping to avoid such duress, is banking on a top-to-bottom redesign. The look of the magazine will become more expensive and inviting, with wider spaces and more photographs and a heavier paper stock with a matte finish.
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