I didn’t have a great deal to do with Privateer towards the end, but I’m reasonably sure that its demise wasn’t as simple as “losing money”. Rouleur (the company, not the mag) changed hands (again, not as simple as that, but the ownership structure changed) and had a portfolio of a successful high-end road mag, lots of successful high-end road books, various spin-off high-end road merchandisey products… And an MTB mag that wasn’t particularly growing (although not plummeting either) and didn’t really fit in with the rest of the stuff. Focussing their efforts on the road stuff (and getting back a bit of the salary bill) made sense, really.
From what I know of the numbers, something along similar lines in terms of frequency, price and production values could be made to work as a standalone, low-overhead venture. Personally I have high hopes 🙂
(Oh, and cheeky plug — if anyone fancies a flavour of Privateer stuff, all my bits are here 😉 )
(And I don’t have a Jones…)