02/17/2009 05:12 am ET Updated May 25, 2011

Newsweek Planning Major Overhaul, Striving To Compete More With Economist Than TIME

Newsweek, owned by The Washington Post Company, is planning a major overhaul this year. It has not made its new vision public, but executives have said it will strive to be a "thought leader," competing more with The Economist than with Time -- in other words, a big stride in the direction it was already headed. The strategy includes a major reduction in circulation and operating costs and a focus on an elite audience to attract advertisers.

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