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The 45-year-old magazine founded by Clay Felker, once the hub of "New Journalism" where writers such as Nora Ephon, Jimmy Breslin and Tom Wolfe flourished, hopes to realize $3.5 million in savings by cutting back 13 issues. The magazine will continue to publish its special issues devoted to the best doctors, food & drink and gift guide, according to The Wrap.
The magazine also will be rolling out a new style makeover. Although New York nabbed a 2013 best magazine award from the American Society of Magazine Editors, it has not escaped the dwindling ad pages and circulation drop-off that have plagued periodicals. Alliance for Audited Media figures place the magazine's subscriber base at 400,000, but ad pages this year declined 9.2 percent compared to year-ago figures.
At the same time, digital traffic is up 19 percent to nine million unique visitors monthly, according to comScore. The Times reported that the magazine plans to hire 15 staffers to bolster online content and ad sales.
New York is owned by the heirs of Bruce Wasserstein, who purchased the magazine in 2004 before his death in 2009.