I am a consultant so no longer at a school. But this is an issue that concerns me greatly. There is lots of evidence (via CASE and other sources) showing that the most significant income from Alumni comes from people spending half an hour or more sitting and reading a printed school or university magazine. I donate to Geelong Grammar and Xavier College (I led community relations at each) because I still get a printed magazine from both.
Be careful before you remove a magazine. Too many schools who go digital have never counted the clicks to open and the time spent reading. I believe the awareness transfer (knowledge of the school and what is going on) reduces significantly when going from print to digital. Especially donors over 65 reduce giving if you take away their printed magazine.
Happy to discuss – my email is firstname.lastname@example.org