New York Magazine in March will be published on an every-other-week basis, down from its 42-week schedule in an effort to save money ($3.5M) and cope with the decline in print advertising.Three special issues (best doctors, annual gift guide and food & drink) will supplement the revised schedule.

The cost savings will be used to bolster NYM’s digital issue, where traffic is up 19 percent during the last eight months to 9M unique visitors a month.

The magazine’s print subscriber base is in the 400K range. Ad pages are down 9.2 percent

Adam Moss, editor-in-chief, told the New York Times the revamp was under consideration for some time.

He said the challenge is “trying to balance making something that people want to read immediately but still want to hang on to take home.”

He plans to hire 15 staffers to step up online content and sales.

Wall Street investors Bruce Wasserstein bought NYM in 2004. He died five years later.