Smart: publishing Paste magazine.
Smarter: publishing Paste magazine in both print and online editions, thereby allowing cheapskates (or – and here's an audience every publisher forgets – people who live outside of the magazine's distribution area) to read the entire magazine, consuming both the edit and the ads, for free.
Sure, they've lost the $5.95 I would've spent (if, of course, my local newsstand stocked the mag) buying the product. But they've saved whatever they would've spent printing the mag, and they've just added one more person to their circulation. Like I say: smart.