• Forbes, Sunday, October 4, 2009 9:48 PM

In The New Yorker's largest single-issue ad buy since 2005, HSBC Bank USA is sponsoring the Oct. 12 money-themed issue. Six HSBC ads appear inside a cover flap, on the inside back cover and on the back cover. The deal is estimated at $1 million.

The ad buy comes as Conde Nast faces massive budget cuts and considers dropping titles by the year-end. The New Yorker's ad pages in the first half of the year were down 21% compared to last year. Says Lisa Hughes, publisher of The New Yorker, "We had a strong September, and advertisers feel like it's settling down a bit." The money issue is up 3% in ad pages compared to last year.

HSBC will hype its ties to The New Yorker in video ads airing in 5,500 New York cabs. It will also distribute free copies of the magazine at all business schools in and around Manhattan, as well as at Syracuse University and Cornell University.

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