Time Inc., the publisher of magazines including Time and Sports Illustrated, has begun eliminating about 6% of its head count—nearly 500 jobs—in the biggest round of cuts at the company since 2008."With the significant and ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform," CEO Laura Lang said in a memo to employees today. "To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives. These reductions are part of this important transformation process. "Meetings with affected employees began Wednesday morning and were expected to continue throughout the day.Staffers had been enjoying a bit of a respite from the regular layoffs under former Chairman and CEO Ann Moore, who eliminated thousands of jobs through cuts and magazines sales in the 2000s. But they also expected a large swing of the axe sooner or later under Ms. Lang, a publishing novice who joined from Digitas in January 2011. One of her first moves was to call a top-to-bottom review facilitated by consultants from Bain & Co., evaluating priorities, opportunities and trouble spots.Time Inc. counted as many as 12,000 employees as recently as 2007, but was down to 8,000 before today's cuts.Time Inc. is not alone in reducing head count, but the scope of today's action is broader than others. Meredith Corp., the publisher of magazines such as... Continue reading at 'Crains New York'
[ Crains New York | 2013-01-30 00:00:00 UTC ]
Anheuser-Busch InBev is poised to launch Bud Light Seltzer as part of a new product blitz, according to reports from two beer trade publications. Citing sources from the brewer’s distributor meeting this week, Beer Business Daily reported that the brewer was developing a seltzer line extension... Continue reading at Advertising Age
[ Advertising Age | 2019-09-13 13:12:06 UTC ]
More news stories like this
[caption id="attachment_171101" align="alignright" width="150"] Luise Stauss[/caption] The Atlantic named Luise Stauss as its first director of photography this week. Stauss, who will be joining the recently-expanded art team led by creative director Peter Mendelsund, will be based out of The... Continue reading at Folio Magazine
[ Folio Magazine | 2019-09-12 20:19:23 UTC ]
More news stories like this
The first six months of 2019 were something of a mixed bag for trade publishers whose financial results are publicly reported. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-08-30 04:00:00 UTC ]
More news stories like this
A month after pledging to "vigorously defend" its proposed $1.4 billion acquisition of rival publication printer LSC Communications in the face of a Justice Department lawsuit challenging the deal, Quad/Graphics announced on Tuesday that the two companies have agreed to end the fight. The... Continue reading at Folio Magazine
[ Folio Magazine | 2019-07-23 16:26:38 UTC ]
More news stories like this
Special interest magazine publisher F+W Media is due back in Delaware bankruptcy court Monday afternoon, where the company is expected to present the winning bidders emerging from an auction of its remaining media assets, the latest step in a process that began when the company filed for... Continue reading at Folio Magazine
[ Folio Magazine | 2019-06-17 16:16:56 UTC ]
More news stories like this
[caption id="attachment_160093" align="alignright" width="150"] Jon Werther[/caption] National Media Group president Jon Werther is out at Meredith Corp. after seven years with the company, effective immediately. In a statement from president and CEO Tom Harty, he said that there aren’t any... Continue reading at Folio Magazine
[ Folio Magazine | 2019-06-12 20:33:28 UTC ]
More news stories like this
Hachette UK c.e.o. David Shelley hailed a "very strong" fourth quarter for the publisher, as parent company Lagardère reported a revenue drop of 1.2% like-for-like for the full-year 2018. Continue reading at The Bookseller
[ The Bookseller | 2019-02-08 00:00:00 UTC ]
More news stories like this
When Facebook's Campbell Brown addressed an auditorium full of magazine executives in New York Tuesday, she did not mince words: The social network is not here to save their businesses.Facebook's head of global news partnerships was addressing an audience of print media professionals at the... Continue reading at Advertising Age
[ Advertising Age | 2019-02-06 00:00:00 UTC ]
More news stories like this
Amazon's 2018 sales increased 31% to $232.9bn as the online giant revealed a record $72bn revenue for the fourth quarter, in its latest financial results. Continue reading at The Bookseller
[ The Bookseller | 2019-02-02 00:00:00 UTC ]
More news stories like this
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 ]
More news stories like this
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 ]
More news stories like this
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 ]
More news stories like this
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... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2018-11-09 00:00:00 UTC ]
More news stories like this
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 ]
More news stories like this
Like in previous months, the top performing print magazine issues of April featured a mix of both escapism and depictions of dire crises, according to the most recent data from GfK MRI's Issue Specific Study, which measures how well individual issues perform against a magazine's 12-month... Continue reading at Folio Magazine
[ Folio Magazine | 2018-09-19 00:00:00 UTC ]
More news stories like this
Marc Benioff, the billionaire co-founder of software maker Salesforce.com Inc., is making a play to project his influence far beyond Silicon Valley with the purchase of Time magazine. The 53-year-old entrepreneur and his wife, Lynne, agreed to pay $190 million in cash to Meredith Corp. for the... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-09-17 00:00:00 UTC ]
More news stories like this
A federal appellate court has upheld the dismissal of a longstanding antitrust suit against Hearst and Time Inc.—among other current and former magazine publishers—filed by defunct wholesaler Anderson News, LLC, likely ending a legal battle so protracted that several of its original parties no... Continue reading at Folio Magazine
[ Folio Magazine | 2018-08-07 00:00:00 UTC ]
More news stories like this
As it does twice each year, GfK MRI released its latest round of magazine audience estimates—the average per-issue readership among U.S. adults for about 200 of the most widely-read magazines—based on consumer research conducted over a nine-month period. The Spring 2018 figures—drawn from the... Continue reading at Folio Magazine
[ Folio Magazine | 2018-06-22 00:00:00 UTC ]
More news stories like this