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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.
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