Fortune magazine cuts back to 18 issues a year

Fortune magazine is being cut back to 18 issues a year from 25, says Time Inc. According to a story on Bloomberg.com, while each issue will be somewhat larger, the new publication schedule is part of another round of cuts aimed at meeting parent Time Warner Inc.'s targets for savings. In November 2008, Time Inc. eliminated 600 jobs (about 6 per cent of the work force).

At Fortune, advertising sales were down 33% over the first nine months of the year during a period when magazine advertising over all fell 20%.