The Press: Big Tent

Most publishers work mightily to achieve big circulations. But not the McGraw-Hill Publishing Co. It has become the world's biggest publisher of trade magazines and the fourth biggest U.S. magazine publisher* by carefully restricting its circulation. Newsstand sales, the lifeblood of most magazines, are not for McGraw-Hill, either. Last year although its 37 magazines made up two-thirds of McGraw-Hill's $62.5 million gross, it did not put a single one on newsstands. Nor do the seven McGraw-Hill bureaus and 46 part-time correspondents around the world cover the breaking news like other correspondents. In Korea,...

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