The New York Times today reports that Martha Stewart Living magazine is cutting the number of readers it guarantees its advertisers by 22% -- from 2.3 million to 1.8 million. The declining readership, of course, is tied to Martha's legal trouble and all the bad press it has generated.
There's a silver lining behind the news, however. Though the ad base is being cut, the magazine is actually going to jack up the rate it charges advertisers by 6%. While that may seem counterintuitive, it's a sign the company believes advertisers -- such as General Motors
Despite the uniformly bad press Martha has received since her sale of ImClone
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