I think I've looked at the lower-end magazine you're talking about (the one I'm thinking of has the initials "G.O.B.") There's a niche for that magazine, and there's a niche for the big glossy yacht magazines that, not too surprisingly, tend to be aimed at millionaires. I'm not sure how the latter forces the former out of business, since they address completely different niches. I will concede that the glossy yacht magazines probably have an easier time meeting a budget--I dare say Rolex will pay more for an add than Life-Calk.

Ironically, smaller local papers seem to be doing better than the major national ones. There are reasons for this other than content, including labor issues and other things that large corporate papers tend to accumulate. There are advantages to being an entrenched megacorporation, but there are some disadvantages, too.