Tina Brown

This was Vanity Fair.

How could it lose $60 million?

Absolutely.

But that's what it took to launch a huge major national magazine in America, you know.

So, but by the time I left, you know, I turned it completely around and the spending worked is the point.

I mean, you know, we created something of enormous quality and success.

When I left, it wasn't.

No, the Vanity Fair, I got it to profit, like making 5 million a year.

Then by the time, you know, a few years later, it really began to.

But the turnaround is the hard part, as you know.

And we took it from 250,000 to 1.2 million.

And, you know, that's where it stayed.

And then on to the New Yorker, which, you know, was losing as well.

And I got the losses down there.

By the time I left, I hadn't quite got the losses down, you know, to profit.

But, you know, it was on the way to success.

And the spending worked, and it was the right thing.

And what was great about Cy Newhouse, actually, when I went to the New Yorker, I had to actually fire 75 people, and I hired another 50.

But he let me do it so that I could give people time to go, as it were.

He didn't say, come in, bloodbath, hire.