Time magazine is debuting on shelves across the nation with its new look and its new streamlined layout. The magazine will not only have larger headlines and more photos, but more bullet points and visual aides too with the goal of showing a different aspect of stories than its traditional longer articles. Time Warner Inc. (NYSE:TWX), the magazine's parent, has already cut jobs in the Time unit and is planning more cuts in an effort to improve the magazine operations. Time magazine is one of the magazines Time Warner is keeping, even after its recent magazine sales.

Time is also going to have more cross promotional activities in print to online and vice versa, or so the previews have indicated. The overall comparisons can't be made yet because, well, the future hasn't happened. Old Media has definitely been making attempts to be hipper and more aggressive compared to years past.

Web 2.0 is something that Old Media companies have had to embrace whether they liked it or not. If you don't agree, go ask Tribune Co. (NYSE:TRB) and other newspaper and broadcast companies about their focus over the last 18 months. All of them will say it has been on capitalizing off the internet while trying to maintain traditional media operations with each company having a different focus such as user-generated content (blogs or video), online ad sales, print exclusives, online exclusives and the like.

This is not the first change in media by a long shot, but it does mark a strategic change that you can bet every other media company is watching closely.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.