After months of searching, Meredith Corporation has finally found a proper suitor for Time magazine. On Sunday, September 16, the company announced it has sold the legacy brand it acquired in January this year for $190 million in cash to Marc and Lynne Benioff. Marc Benioff is the founder, chairman and co-CEO of Salesforce, however this transaction is private and separate from that company. The Benioffs will not oversee the day-to-day operations of Time, according to a statement Folio: received from Meredith Corp affirming that Time's current leadership will continue to manage the magazine. The release also states that Meredith will provide short-term business continuity services through a multi-year agreement with the Benioffs, including consumer marketing, subscription fulfillment, paper purchasing and printing. The company will also be able to include Time in large corporate advertising buys. Meredith will use the liquidity gained in the sale to pay down debts. Further, the company says it expects to reduce its debt by $1 billion during its fiscal 2019, which began on July 1. “We’re pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand,” said Meredith President and CEO Tom Harty, in the release. “For over 90 years, Time has been at the forefront of the most significant events and impactful stories that shape our global conversation. We know Time will continue to succeed and is in good hands with the Benioffs. We thank the Time team... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2018-09-17 00:00:00 UTC ]
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Editorial: International publishing can focus on its own obstacles and setbacks. Or it can ask how to put its best creativity into the hands of a world that needs it. The post Our New Spring Magazine Is Out: Publishing in Times of Crisis appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-13 11:30:19 UTC ]
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The New York Times Magazine will come to life this weekend in a whole new way. In partnership with Google Lens, smartphone users will be able to access additional information online that corresponds to the print version of the magazine. Readers who hover their smartphones over many of the pages... Continue reading at AdWeek
[ AdWeek | 2020-03-12 13:50:26 UTC ]
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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... Continue reading at Folio Magazine
[ Folio Magazine | 2020-02-06 19:40:45 UTC ]
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Meredith announced it has another quarterly newsstand title in the works, this time with chef, author and TV personality Ayesha Curry. This will be the second new title added to the Meredith portfolio in 2020, along with “The Property Brothers” Drew Jonathan Scott’s Reveal, which hit newsstands... Continue reading at Folio Magazine
[ Folio Magazine | 2020-01-23 14:48:45 UTC ]
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[caption id="attachment_162357" align="alignright" width="150"] Catherine Levene[/caption] On Monday, Meredith Corp. announced a series of expanded leadership roles within its national media division. The president of Meredith Digital, Catherine Levene, who succeeded Stan Pavolvsky in that... Continue reading at Folio Magazine
[ Folio Magazine | 2019-11-21 17:20:43 UTC ]
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[caption id="attachment_174829" align="alignright" width="150"] Rachel Kay[/caption] On Wednesday, Hearst announced the hiring of Rachel Kay as vice president of talent, a newly created role that will advance talent recruiting programs across the company. Reporting directly to Hearst COO Mark... Continue reading at Folio Magazine
[ Folio Magazine | 2019-11-07 21:17:21 UTC ]
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Palm Coast Data (PCD), the Florida-based provider of subscription and ecommerce fulfillment services to magazine publishers including F+W Media, MotorTrend Group and New York Media, has been sold by former longtime owner AMREP Corp. in exchange for $1 million in cash. The buyer, Studio... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-08 00:00:00 UTC ]
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Welcome to the latest edition of Ad Age Publisher’s Brief, our roundup of news from the world of content producers across digital and print. Got a tip? Send it our way. Joining us late? Here's the previous edition. Bigger data: Meredith Corporation and Hearst Magazines are adopting a new... Continue reading at Advertising Age
[ Advertising Age | 2019-04-30 00:00:00 UTC ]
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The memoir, published in November, could be the world's most popular autobiography, its publisher claims. Continue reading at BBC News
[ BBC News | 2019-03-26 00:00:00 UTC ]
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Completing a two-year-long divestment process, Rogers Media, once far and away Canada's largest magazine publisher, will soon pull out of the print media business entirely. The company has reached an agreement to sell all five of its remaining magazines—including 114-year-old news... Continue reading at Folio Magazine
[ Folio Magazine | 2019-03-21 00:00:00 UTC ]
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With Fever Pitch, About a Boy, and High Fidelity, Nick Hornby created a niche penning romantic comedies from the male perspective and launching the crush-worthy careers of Hugh Grant, Colin Firth, and John Cusack on both sides of the pond. Then he went on to prove that he can deftly embody a... Continue reading at Slate
[ Slate | 2019-02-23 00:00:00 UTC ]
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Meredith has finalized its sale of Fortune magazine to Thai businessman Chatchaval Jiaravanon, the magazine publisher announced today. The brand was purchased for $150 million cash by Fortune Media Group Holdings Limited, wholly owned by Jiaravanon after he was announced as the intended new... Continue reading at AdWeek
[ AdWeek | 2018-12-21 00:00:00 UTC ]
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When Meredith Corp. put Time magazine on the block following its purchase of Time Inc. in Nov. 2017, it tapped editor-in-chief Edward Felsenthal to spearhead the process. Perhaps an unorthodox role... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2018-12-06 00:00:00 UTC ]
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Subscribe to us on iTunes, check us out on Spotify and hear us on Stitcher, Google Play and iHeartRadio too. This is our RSS feed. Tell a friend!When Meredith Corp. put Time magazine on the block following its purchase of Time Inc. in Nov. 2017, it tapped editor-in-chief Edward Felsenthal to... Continue reading at Advertising Age
[ Advertising Age | 2018-12-06 00:00:00 UTC ]
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Meredith Corp. agreed to sell Fortune magazine and its related businesses for $150 million, furthering the company's efforts to shed the news-focused brands it acquired in buying Time Inc. The buyer is Thai businessman Chatchaval Jiaravanon, an owner of the Charoen Pokphand Group conglomerate,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-11-09 00:00:00 UTC ]
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Ferrari fever burns on. Four months after a 1962 Ferrari 250 GTO sold for $48 million at an RM Sotheby’s auction in Monterey — the highest price ever paid for a car at auction — a race car from the Ferrari history books may set a new Southern California high-water mark. On Dec. 8, a rare 1956... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-10-19 00:00:00 UTC ]
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Time magazine's current owner has some advice for billionaire Marc Benioff and his wife, who are acquiring the iconic publication: Its days as a weekly should probably be over.Meredith Corp., the publisher that agreed to sell Time for $190 million last month, suggests that the title will need an... Continue reading at Advertising Age
[ Advertising Age | 2018-10-04 00:00:00 UTC ]
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Time’s sales and profits, like those of most print publications, have been shrinking every year, a situation that made it difficult to sell the magazine, even with its storied past. Continue reading at The New York Times
[ The New York Times | 2018-09-18 00:00:00 UTC ]
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Last month, Folio: celebrated the Top Women in Media awards and highlighted achievements made by over 100 women across the industry. From Up & Comers to Corporate Champions, these women have done everything from achieving new revenue streams for their companies to building new brands from... Continue reading at Folio Magazine
[ Folio Magazine | 2018-07-17 00:00:00 UTC ]
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Compensation for Time Warner Chief Executive Jeffrey Bewkes — who is hoping to take a victory lap after orchestrating the sale of his company to AT&T — soared to $49 million in 2017, according to a regulatory filing. His 2017 compensation was 50% higher than the previous year, when he... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-04-28 00:00:00 UTC ]
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