The world of magazine publishing is haunted by a handful of entrepreneurs who hold that the ingredients of success consist almost entirely of paper and ink. They are not particularly interested in mail subscribers or advertisers, although they accept such business as comes in unsolicited. Nor are they concerned much with the quality of their editorial product, relying on the probability that there are newsstand suckers who will buy anything. No one has applied this publishing theory with more personal satisfaction than a onetime freelance writer named Hy Steirman.
Steirman first tested the proposition in 1958, when he bought two...
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