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In elementary school, when the young Terrill was assigned an art project about Mars in school, he created a little magazine that featured a drawing of the planet — as well as invented ads for the latest cosmetics for ladies on Mars.

As editor and then publisher, Mr. Navasky presided over the Nation from 1978 to 2005, cultivating a roster of stylish, incisive writers while pinching pennies and soliciting donations to keep the little magazine afloat.

“It was a little magazine that was trying to change the balance of power,” Ms. Angel said.

“Every 10 years or so there should be a new little magazine,” Ms. Panovka said.

Back in New York, they toyed with the idea of starting a little magazine.