Advertisers had been guaranteed circulation of 225,000, Mr. Maxwell said.
He cut the guaranteed circulation to 3.2 million from 9 million.
Ad pages have fallen by double-digit rates since the investigation began, and last October the company reduced its guaranteed circulation by nearly 22percentt.
The company faces a continued loss of advertising in its main publication, Martha Stewart Living, where the guaranteed circulation was cut early this month by nearly 22percentt.
The magazine, owned by Hearst, has since raised it twice, and will soon increase it to 1.25 million, or the combined guaranteed circulation of Saveur and Food & Wine.
In March, it shifted the print edition from monthly to bimonthly publication and lowered the magazine's rate base, the minimum guaranteed circulation, to 350,000 from 450,000.
Advertising rates were increased an average of 6percentt Jan . 1 and the magazine began an unusual initiative of guaranteeing a total readership audience, now more than 17 million in North America, as well as guaranteeing circulation, which is now almost 3.1 million.
Conde Nast is promising Lucky's advertisers a rate base, guaranteed circulation, of 500,000, which Mr. Truman described as "an aggressive start," and hopes "in the long run to go to a million".
Ad sales have posted double-digit declines, television viewership has waned, the company's flagship shows have lost their scheduling slots on CBS affiliates, and in October the company reduced the guaranteed circulation of its main publication, Martha Stewart Living.
All those passe readers of the old, earnest Lifestyle aren't going to be happy with the new version, and that means a lower guaranteed circulation and lower advertising rates.
The American edition (slogan: "All you need to know about everything that matters") plans to raise its guaranteed circulation from 100,000 to 125,000 and reports crucial first-year renewals are running at 71%, compared with an estimated 45% for newsweeklies like leader Time (circulation, 4 million).
