Everyone wants to be a magazine writer, so it's important that you keep up with the industry. One good way to do that is to read the Business section of the New York Times, which features lots of useful and interesting information about the media industry, advertising and technology--all areas that most journalism students should be learning about.
Here's a bad news story about advertising in magazines.
Here's another rundown, from National Public Radio, about the decline and changes in the magazine industry. Among publishing executives, the word denial is mentioned. Not a good thing.
Now, from a website called Publishing Executive, here's some good--from a chat with Mr. Magazine.