The Buzz

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Who knew there were still new economy magazines defying the industry standard by still operating? Now we do. Why? They shut down. Upside magazine fell. Forbes ASAP closed its doors. And Red Herring said it was being sold hoping to weather its financial storm. It's no red herring to guess it will soon follow the others. "There is no market for a dedicated new-economy publication," a Forbes rep told The New York Times.

Les Moonves' first go-round at running two networks at Viacom has been a stumbling enterprise. While CBS is doing more than surviving and thriving, UPN has seen ratings tumble. The number of average viewers this season through Oct. 6 in the key 18-to-34 demo is down 27%.

Chicago's Tribune Co. is taking a page from TV and mounting an effort to capture the 18-to-34 demo. The Trib is launching RedEye, which will target Gen X/Y readers. Chicago media buyer Bill Blaha of Cramer-Krasselt thinks RedEye has a chance-in part because of the Trib's deep pockets-of competing with the popular weekly Chicago Reader for younger, oft-apathetic readers. "The Tribune's trying to take away some of that glory from the Reader," he says. "As an advertising agency, we've got to get young people back to reading. They're not going to read traditional papers."

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