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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Personnel changes hit Los Angeles Magazine as new owners lay off publisher, EIC. The post Hour Media Group Acquires Emmis Magazines for $6.5 Million appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-03-01 00:00:00 UTC ]
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Publisher once known as Emap will have just one print asset, Retail Week, after it offloads 13 titles to focus on big brandsAscential, the events and publishing business once known as Emap, is to sell more than a dozen “heritage” titles including the fashion bible Drapers, Architects’ Journal... Continue reading at The Guardian
[ The Guardian | 2017-01-05 00:00:00 UTC ]
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Paul Hobby, whose family once owned the Houston Post, purchases magazine. The post Emmis Sells Texas Monthly for $25 Million appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-10-18 00:00:00 UTC ]
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"Fixer Upper" stars Joanna and Chip Gaines release The Magnolia Journal today. The post With an Audience in Hand, Meredith Launches a Newsstand Magazine appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-10-12 00:00:00 UTC ]
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Richard Neville, the Australian author and co-founder of controversial 60s counterculture magazine Oz, has died in Byron Bay aged 74. Continue reading at BBC News
[ BBC News | 2016-09-05 00:00:00 UTC ]
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Rupi Kaur's book of poetry, 'Milk and Honey,' has sold nearly a half million print copies. How did that happen? Her publisher, Andrews McMeel, is just following "where the audience goes." Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-08-26 00:00:00 UTC ]
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Emmis Communication looks to go private, reduce debt as investors shy away from media. The post Emmis to Sell Regional and City Magazines appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-08-23 00:00:00 UTC ]
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As a "digital-first company," Time Inc. is now trying to keep pace with tech giants like Google, Facebook, and Comcast, in addition to fellow magazine publishers like Hearst and Cond Nast.That's one of the big reasons why Time Inc. is embracing a category-focused, more streamlined approach to... Continue reading at Advertising Age
[ Advertising Age | 2016-08-03 00:00:00 UTC ]
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Media company Meredith is betting big on Facebook Live. It has produced 26 videos in the past eight months and aims to create between five and 10 a week. It puts a big focus on Martha Stewart content and uses those live videos to generate revenue through integrating products within them. It's... Continue reading at Digiday
[ Digiday | 2016-07-26 00:00:00 UTC ]
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Colorado Parent acquired by 5280 Publishing while Westchester Family joins CNG. The post Hibert Publishing Sells Off Magazine Assets appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-07-01 00:00:00 UTC ]
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The retiring B&N chairman reflects on his years in the bookselling business, and the big changes that have reshaped the chain in the past decade. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-04-29 00:00:00 UTC ]
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Leadership shuffle sees Long replace Eric Danetz; Jorg Strattman promoted to associate publisher. The post Meredith Long Named Group Publisher of Time, Fortune, and Money appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-04-12 00:00:00 UTC ]
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A Southern California man who pointed a shotgun at a 7-year-old girl selling Girl Scout cookies has been given six months in jail. See more of our top stories on Facebook >> The Riverside Press-Enterprise says John Dodrill was sentenced Friday. He pleaded guilty to possessing an illegal... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-03-19 00:00:00 UTC ]
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After four years of running one of magazine publishing's great trophy properties, Facebook multimillionaire Chris Hughes has found a new owner for The New Republic. Win McCormack, an Oregonian... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2016-02-27 00:00:00 UTC ]
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More magazine, which began publishing in 1997 and billed itself as "the magazine for women of style and substance," is shutting down, publisher Meredith Corp. announced Thursday. In a statement, the... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2016-02-26 00:00:00 UTC ]
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Nineteen-year-old women's lifestyle magazine to shutter after April issue as Meredith elects to "align resources against more profitable activities." The post Meredith Shuts Down More Magazine appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-02-25 00:00:00 UTC ]
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Have we returned to the days when mass-circ men's magazines were an oxymoron? The post Tough Times For Men’s Magazines appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2016-02-12 00:00:00 UTC ]
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Sally Lloyd-Jones’s retelling of the Bible from Zonderkidz found a surprising readership beyond children, with teens and adults among its millions of fans. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-02-10 00:00:00 UTC ]
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The Living Lights brand from Zonderkidz and author/illustrator Mike Berenstain recently passed the five-million unit sales mark. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-11-17 00:00:00 UTC ]
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HarperCollins Children’s Books has sold the US rights for Ross Welford’s Time Travelling with a Hamster to Penguin Random House US for a six-figure dollar sum. Continue reading at The Bookseller
[ The Bookseller | 2015-10-24 00:00:00 UTC ]
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