• NPR, Thursday, June 24, 2010 11:28 PM

"The idea of a magazine that looks at the week, wraps it up and puts a little forward spin on it, that's pretty much an anachronism," says Alan D. Mutter, a former newspaper editor and current digital consultant. Yet Time editors putting are sanguine about their fate.

"In terms of our category ... we're the only guy standing," says Rick Stengel, Time's managing editor, its most senior editorial post. "We convert information into knowledge. Knowledge is what people want. Information is the commodity." Time pursued its own reinvention in 2007; it changed its publication date to Fridays, ginned up Web content and broke more news. And, just as important, the magazine reduced its circulation to a core audience that's more appealing to advertisers: 3.2 million paid subscribers.

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