It seems as if every other block houses a dry cleaner advertising itself as "green," "organic" or "eco-friendly".
Five years ago, Slate and Salon arrived amid proclamations that "Webzines" would become a multibillion-dollar business and displace print publications by stealing their readers and sucking their advertising dry.
Advertising dried up, and his company was struggling to pay interest on its debt.
But in the years that followed the deal, its revenues have plummeted as advertising dried up.
THE financing dried up, Web advertising was not generating enough money, and there were no potential investors in sight.
In the case of Gruner & Jahr, the company acquired two magazines just before the advertising dried up.
Those records show that the firm's magazine publishing division mostly Newsweek itself lost $16.1m in 2008 and $29.3m in 2009 as advertising dried up.
When the recession came, advertising dried up and then failed to migrate to newspaper websites, the newspaper groups continued to award their executives fat pay cheques and payoffs and cut their staff to the bone.
But with the market for Internet advertising drying up, the company, which operates an Internet portal, now says it expects sales of $170 million to $180 million for the quarter, its lowest level since the end of 1999.
Last year, Variety founded EV, a magazine focusing on entertainment and technology, but when advertising dried up, it folded EV into the body of Daily Variety as a monthly section until the advertising market picks back up, said Peter Bart, the editor in chief of Variety.
