Media Life: The long-term trend for the U.S. magazine industry has become quite clear: Circulation declines, including steep ones at the newsstand, with occasional peaks and valleys. The latest example came with the release of the biannual Alliance for Audited Media magazine circ report for the six-month period ended June 30. Newsstand sales, long seen as an indicator of the health of the industry, fell by 11.4%. That comes after the 14.2% decrease magazines suffered at the newsstand during the second half of last year. Together they represent a substantial hit or an industry trying to find its new identity in the digital age.