Kevin,

>But that leads to a question that I don't know if anyone has brought up. Mind you, I have little knowledge of the publication business, so maybe I'll pick up some knowledge along the way, but here goes...

Interesting points. You did leave out the costs of getting and keeping subscribers. Pinnacle in the past has done that in a variety of ways, including booths at conferences and direct mail.

If the pub was on a downward trend in circulation, maybe they considered the costs of promotion too much for the result they were getting, or any of dozens of other reasons that we will never know.

I do think there is a market for magazines, books and newsletters, but the production and delivery processes may have to be handled differently, as you hinted. I don't know the success rate of the UT Magazine in terms of getting paying customers, but it looks like that is a good model for delivery.