A financially stable newspaper gets around 75-80% of its gross revenue from advertisements. That's why advertisers have so much power over content, even news content. I don't know the exact figure for magazines, and it could very well be lower, but this should give you an idea.
In fact if you check the literature you'll see that a common idea is that newspapers are in the business of selling customers to advertisers, and they will try to attract a certain type of reader in order to get certain type of advertisers.
In the glory days, a solid 30-40% of revenue was from classified ads, which were _way_ overpriced, but the only game in town.
You may find this of interest: http://newsosaur.blogspot.com/2010/09/newspaper-ad-sales-hea...
So, it seemed the paper actually pays more just to get the paper delivered than the subscriber paid for it. Advertising pays for everything else.
(I'm curious how newsstands and other outlets work, but I'd have to guess that the papers/magazines are provided at very low cost as well, with most of the price on the sale going to the stand operator.)