NEWSWEEK MAGAZINE AS TREND INDICATOR?
I’ve long argued for the vulnerability of the top-heavy conglomerate model of publishing, centered as it is in two hyper-expensive global cities, New York and London. Lease rates, rents, cost-of-living, salaries– everything about doing business in those two towns should make them uncompetitive in comparison to a city like, say, Detroit. The prestige of a swanky address, and the ability to woo clients in Manhattan bars and restaurants, as a value can go only so far.
Newsweek magazine anyway seems to have discovered a way out. Go onto their Contact page, and you see a large logo for something called EnveritasGroup. Enveritas is a digital marketing agency. Presumably they were hired by– or partnered with– Newsweek, to restore the publication to its previous standing. And lo and behold, the new strategy appears to have moved Newsweek headquarters to the most prestigious address in New York City: One World Trade Center. The lofty skyscraper built to replace the twin towers.
But has it? Search online the listed address with suite number included– 8500– and you come up with not Newsweek, but an outfit called Servcorp. Servcorp sells virtual office space– meaning, a prestigious address. They are, in other words, a glorified maildrop, for Newsweek and other companies.
Where is Newsweek magazine’s headquarters actually located, including their editorial office? Elsewhere in New York? Individual editors’ homes and on Zoom? A small town in Arkansas? We don’t know. But it sure looks as if Newsweek is perpetuating the illusion they’re still based in Manhattan, while cutting costs drastically by working elsewhere.
The downside: no more swanky three-martini lunches.