Two stories hit the Web today about magazines struggling with the digital future.
a rumor that Conde Nast's Wired Digital just bought four-person startup Reddit (which is like Digg, a Website where users vote what stories make it to the homepage).
And the WSJ takes an in-depth look at the digital strategy of my employer, Time Inc. All I am going to say about that one is look at the chart. CNNMoney.com is Time Inc's top Web property, and it is the one that runs all our business magazine Websites—B2.0, Fortune (who just named an new managing editor, my former colleague Andy Serwer), Money, and Fortune Small Business. And, according to the Journal, it accounts for 25% of the profits of the business titles.
My own personal opinion is that we have a lot more figuring out to do because that percentage of profits coming from the Web is just going to keep on going up.