Magazine ad pages down, down, down

I've had a few conversations with people over the last few months that focus around the concept that magazines are weathering the digital storm better than newspapers, due to the niche-based business that magazines cultivate with their audience vs. the masses-based model of a daily newspaper. I've always found it odd that people would argue that point with me, seeing as how my very experience contradicts the point, but they do articulate it nonetheless.

Well, a report that some of the most profitable magazines out there took a punch to the gut on ad sales in the first quarter should do a good job of adding some sobering facts to the discussion.