An era came to an end last week when Time Warner announced it would be spinning off its storied magazine division by the close of the year, leaving the owner of People, InStyle, Fortune, Sports Illustrated and, of course, Time to fend for itself as a publicly traded Time Inc. The announcement came after talks that had been aimed at merging the publisher's lifestyle and entertainment titles with the magazine division of Meredith Corp. fell through. "A complete spinoff of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses," Chief Executive Jeff Bewkes said. "Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company." Time Inc. was last on its own in 1989, when it merged with Warner Communications. Though still a publishing powerhouse, with $3.4 billion in revenue in 2012, sales and profits have been declining for years.Analysts say it needs new leadership to figure out a digital and consumer revenue strategy to make up for the continued erosion of print advertising. Laura Lang (pictured), CEO for the past year, will stay on until a successor is found. Time Warner's share price has climbed 10% since mid-February, when news leaked that it was in talks with Meredith.—Matthew Flamm Continue reading at 'Crains New York'
[ Crains New York | 2013-03-10 00:00:00 UTC ]
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Hearst Corporation, parent to the National Magazine Company, has confirmed for the first time it is no longer in talks to buy BBC Magazines following its Lagardère move. Continue reading at Media Week
[ Media Week | 2011-02-07 00:00:00 UTC ]
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Consumer magazines slowed their general circulation skid, with total paid and verified circ dropping 1.2 percent for the second half of 2010 (compared to a 2.3 percent drop in the first half of the year), according to preliminary figures reported in the Audit Bureau of Circulations' most recent... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-07 00:00:00 UTC ]
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Hearst Corporation has made a "binding offer" of 651m (£559m) for Lagardère's international magazine business, which includes a licensing agreement for fashion magazine Elle. Continue reading at Media Week
[ Media Week | 2011-01-31 00:00:00 UTC ]
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Hearst Corp. announced today that it has made an offer of 651 million euros (or about $889 million) for Lagardere's international press and magazine business, including 102 titles in 15 countries, and 50 related Web sites. The deal includes publishing rights to Elle in 15 countries as well as 10... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-31 00:00:00 UTC ]
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Written By: Katie Allen E-books are to be accepted for entry for the Man Booker prize for the first time in 2011 as a number of changes are made to the rules. Publishers are being asked to submit a digital version of their submissions as judges are to be supplied with e-readers for the first... Continue reading at The Bookseller
[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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The assets of music magazine Pastewhich folded in print last fall but kept Pastemagazine.com alivehave been sold to Wolfgang's Vault, owner of a variety of music sites including Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-26 00:00:00 UTC ]
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Morgan Entrekin, holding book, publisher at Grove/Atlantic, met with booksellers at the Winter Institute book fair last week. Continue reading at The New York Times
[ The New York Times | 2011-01-24 00:00:00 UTC ]
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Hachette Filipacchi is to close teen print magazine Sugar in March, which has suffered flagging circulation figures, and ahead of an anticipated group sale to US publisher Hearst. Continue reading at Media Week
[ Media Week | 2011-01-19 00:00:00 UTC ]
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After several stark years in which stores like Cody's in San Francisco and Davis-Kidd Booksellers in Nashville closed and the nation's second largest chain is teetering more than ever, publishers and booksellers are looking for new ways to work together. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-01-17 00:00:00 UTC ]
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