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Million Circ Can't Save FHM

One million isn't what it used to be in the magazine business. At one time, it was a magic number of readers--one where advertisers really stood up and took notice. But no so much anymore: FHM, a "lad magazine" with a circulation 1.25 million, has left the country in the middle of a bid ad slump.

In the last year, its advertising plummeted nearly 20% in the first 11 months of the year. What had not long ago been a hot niche in publishing has cooled. Even circulation leader Maxim was down 5% in ad pages, while circulation is off 200,000 over the last three years.

Could it be, that the genre is keeling over on its way to middle age? Well, the category was once derided--and then imitated--by mainstream men's magazines like Esquire and GQ to the point where the original lad mags no longer stand out.

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