I have been doing research on TIME and NEWSWEEK - looking for them at checkout counters - the true measurement of circulation. They have been displaced from those prime spots for a few years, replaced by O and Martha Stewart, and TV Guide and yes, the Globe!
The same thing is true in the Denver market. Time and Newsweek are gone most of the time. The magazine itself seems smaller as well. (I don't read either but used to glance at their headlines when I'd go through.)
Great observation about the absence of Time and Life at the checkouts--- it had not registered with me until you mentioned it.