“Like other photo agencies, Magnum has seen its fortunes decline in recent years, along with those of the magazines and newspapers that once published the work of its photographers more regularly. The best known of these pictures went on to have long financial afterlives, thanks to licensing agreements that placed them everywhere from television to books and Web sites. But in a world of camera-phone images, bloggers and inexpensive photojournalism flooding the Internet, the cooperative’s finances have suffered.”