President and CEO Tom Harty opened Meredith Corp.'s quarterly earnings call Thursday morning by declaring the integration of the now two-year-old Time Inc. acquisition "largely complete," leaving the company in "the strongest competitive position in its history." Performance in Meredith's magazine and digital media business, known as its National Media Group, "significantly exceeded our expectations," in its fiscal Q2 (which ended on December 31), he said, driven by a second consecutive quarter of growth in its combined print and digital advertising business. While overall National Media Group revenue was down 3.1% compared to the same period last year, Meredith attributed those declines to numerous changes it made to its portfolio in recent months (outlined below), including the closure of Family Circle, which CFO Joe Ceryanec implied had been losing money but still had an impact on the group's top line revenue when it was shut down. Excluding these special items, Harty said, the National Media Group's operating profit was $92 million and adjusted EBITDA was $141 million, nothing that both figures were second-quarter records for the company. "If you look at calendar 2019 in its entirety, total comparable National Media Group advertising was up, meaning we achieved the inflection point of digital advertising revenue gains more than off-setting print advertising declines," he added. Harty summarized the changes the company has made to its magazine portfolio in greater... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-02-06 19:40:45 UTC ]
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Written By: Graeme Neill Publication Date: Mon, 21/02/2011 - 08:40 Man Booker winner Hilary Mantel and Susan Hill are among the writers longlisted for the £30,000 Sunday Times EFG Private Bank Short Story Award 2011. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-21 00:00:00 UTC ]
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Tomorrow, TIME Magazine will show off its makeover. After months of trial, the editors of TIME have created a new version of the iconic magazine. Though some of the publication remains the same, other features will be transformed. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-18 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Wed, 16/02/2011 - 15:40 World Book Day will be supported by News International for the second year running, with £1 WBD book tokens to be printed in both the Times and the Sun. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-16 00:00:00 UTC ]
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At a press conference this morning, Time Inc. announced it is launching an "all access" digital subscription plan in an effort to offer their brands to readers on any platform. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-11 00:00:00 UTC ]
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Paper manufacturers Newpage and Verso may not be headed for a merger after all, according to two paper-industry analysts quoted in The Dead Tree Edition. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-10 00:00:00 UTC ]
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Written By: Benedicte Page Overdrive c.e.o. Steve Potash has said there is enthusiastic support for library e-lending from many trade publishing houses, describing fears over remote downloading as not a real issue. Potash was visiting London this week for talks with the major publishers,... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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The ebook sales milestone "has come even sooner than we expected," CEO Bezos says. Continue reading at PC World
[ PC World | 2011-01-29 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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Total revenue jumped 9 percent to $367 million for Meredith Corp in the second quarter of fiscal 2011, driven by strong advertising growth and integrated marketing services. Total advertising revenue for the first six months of fiscal 2011 jumped 11 percent to $420 million (with total revenue of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-25 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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NewPage Paper and Verso--the largest makers of coated paper and the subject of merger rumors last year--are b Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-18 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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