Session: 1234567891011121314151617         Page 573574575576577578579580581582583584585586587588589590591592593594595596597598599600 of 824

essentially the fortnightly implied a very radical change in editorial treatment; namely going from five or six great big stories, in depth stories, kind of Carol Loomis type stores, to a lot more newsy, short stories. Of course Carol and the likes of Carol were violently against it. The final decision was only made in the middle 1970s, when Clifford Drum was publisher.

Apparently there was a meeting out in Glen Cove in 1976. Does that sound right?

Yes. I wasn't there. I think Hedley went to that. There they argued it out, and there was quite a bitter argument. The publishers argued that it would make it easier to sell circulation. The editors argued on both sides--namely those who wanted the continuation of the big story and those who favored the more newsy type approach. The magazine finally did go fortnightly, and in my view never did successfully find its place as a fortnightly. It found itself squeezed between Business Week, which was a weekly, Forbes, which was a fortnightly, and most importantly the Wall Street Journal, which by then had become a very major newspaper. Bit by bit the Wall Street Journal learned all the tricks that were to be learned from Forbes, Business Week, and Fortune and applied them to their own form of daily journalism. So that it ended up with three magazines being in sort of a deadly embrace, while the Wall Street Journal just surged ahead, and by the end of the 1970s left all the others in the dust.