Time Warner Inc. will spin off its magazine business later this year, turning the nine-decade-old publisher of Time, People and Sports Illustrated into a separate publicly held company.The board authorized management to proceed with the plan after a review of options, the New York-based media company said yesterday in a statement. As part of the move, Time Inc. Chief Executive Officer Laura Lang will step down from the role.“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,” Jeff Bewkes, CEO of the parent company, said in the statement. “Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company and will now be able to attract a more natural stockholder base.”The move represents Time Warner’s third major spinoff since Mr. Bewkes became CEO in 2008, letting the company focus on faster-growing businesses. Time Warner Cable Inc., the second-largest U.S. cable company, became independent in March 2009. Time Warner spun off AOL, the dial-up Internet service that is remaking itself as a Web publisher, later that year.Time Warner’s magazine assets could be worth as much as $3.2 billion, based on estimates published last month by John Janedis, an analyst at UBS AG in New York.The spinoff decision follows an attempt to divest some of Time Warner’s magazines to Meredith Corp., the Des Moines, Iowa-based publisher of... Continue reading at 'Crains New York'
[ Crains New York | 2013-03-07 00:00:00 UTC ]
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Conde Nast ended years of speculation on Monday about whether it would shutter Lucky or continue to print the sputtering magazine by instead spinning off Lucky into a separate company called The Lucky Group.The new company is a joint venture between Conde Nast and BeachMint, an e-commerce... Continue reading at Advertising Age
[ Advertising Age | 2014-08-12 00:00:00 UTC ]
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Could Fox News and CNN have the same owner? No, but close. 21 Century Fox has confirmed reports (first published by the New York Times) that it made an $80 billion bid for fellow media conglomerate Time Warner -- and was turned down, for now.... Continue reading at Engadget
[ Engadget | 2014-07-16 00:00:00 UTC ]
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Simon Barnes, The Times's award-winning chief sportswriter, is leaving the newspaper after 32 years. He claims the publisher can no longer afford his wages, according to a Sports Journalists' Association report. The report cites Barnes's email message to Mark Avery in which he wrote:"I have no... Continue reading at The Guardian
[ The Guardian | 2014-06-27 00:00:00 UTC ]
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Time Inc., the owner of People, Time and Sports Illustrated, said Thursday that it had sold Grupo Editorial Expansin, Mexico's second-largest magazine publisher, to the Latin-American private equity firm Southern Cross Group.Terms of the deal were not disclosed.When Time Inc. bought Grupo in... Continue reading at Advertising Age
[ Advertising Age | 2014-06-26 00:00:00 UTC ]
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Glenn Britt, a former chairman and chief executive of Time Warner Cable and a leader in the pay-television industry for many years, died of cancer Wednesday at his New York City home at the age of 65. Continue reading at Los Angeles Times
[ Los Angeles Times | 2014-06-12 00:00:00 UTC ]
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The struggles of print media are far from over, but the first quarter of 2014 has been a particularly upbeat period for the magazine business, and not just because 35 titles launched, compared with... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2014-03-29 00:00:00 UTC ]
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The merger partners are two of America's least favorite cable companies, according to the magazine's new survey.Merger partners Comcast Corp. and Time Warner Cable Inc. are two of America's least favorite cable companies, according to a new survey from Consumer Reports. Continue reading at Los Angeles Times
[ Los Angeles Times | 2014-03-26 00:00:00 UTC ]
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Critics of the merger worry Comcast will have unmatched bargaining power in dealing with media companies, essentially turning Comcast into a gatekeeper able to toll digital media companies for faster access to its network. The post Will the Comcast-Time Warner Cable Merger Hurt Publishers?... Continue reading at Digiday
[ Digiday | 2014-02-14 00:00:00 UTC ]
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Good Housekeeping is a monster brand for parent company Hearst. The 129-year-old magazine is among its largest in terms of revenue, with more than 4.4 million subscribers. Consumers place enormous trust in the Good Housekeeping Seal. Continue reading at AdAge.com Continue reading at Advertising Age
[ Advertising Age | 2014-02-04 00:00:00 UTC ]
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After months of trying to negotiate a deal behind the scenes, Charter Communications is publishing details of its offer to buy Time Warner Cable (which split from Time Warner years ago). Despite a bid that including debt is enough to nab 20 or so ... Continue reading at Engadget
[ Engadget | 2014-01-15 00:00:00 UTC ]
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With Forbes for sale, Fortune's website divorcing from CNNMoney.com and Bloomberg Businessweek getting assessed as part of a companywide strategic review at Bloomberg, the year ahead could see a dramatic shift for top business magazines.The category offers a glimpse into the publishing world at... Continue reading at Advertising Age
[ Advertising Age | 2014-01-04 00:00:00 UTC ]
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Did Time magazine pick Pope Francis as its Person of the Year because he'll sell more magazines than Edward Snowden? That's what some media outlets and Twitter users suggested Wednesday after the new pontiff beat out Mr. Snowden for the recognition.Business Insider, for instance, wrote:"Snowden,... Continue reading at Advertising Age
[ Advertising Age | 2013-12-12 00:00:00 UTC ]
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Did Time magazine pick Pope Francis as its Person of the Year because he'll sell more magazines than Edward Snowden? That's what some media outlets and Twitter users suggested Wednesday after the new pontiff beat out Mr. Snowden for the recognition.Business Insider, for instance, wrote:"Snowden,... Continue reading at Crains New York
[ Crains New York | 2013-12-12 00:00:00 UTC ]
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The magazine was once the most hotly anticipated Sunday read. Now it's been eclipsed by the showy T style publicationTwo magazines, both published by the New York Times, arrived in my house over the weekend, one thin, the other thick.The thin one, The New York Times Magazine, is largely about... Continue reading at The Guardian
[ The Guardian | 2013-12-09 00:00:00 UTC ]
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Forbes Media, the publisher of the eponymous financial magazine and website, is exploring a sale.The company is working with Deutsche Bank AG to consider its options. In a memo to staff Friday morning confirming a report by Bloomberg News, CEO Mike Perlis said the company had received... Continue reading at Advertising Age
[ Advertising Age | 2013-11-15 00:00:00 UTC ]
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When Vice first appeared on Ad Age's Magazine A-List in 2010, it raised more than few eyebrows among industry stalwarts. For one thing, it was the first free-distribution magazine Ad Age had ever honored. And another thing -- OK, the main thing -- Vice is a cheerfully irreverent, quasi-rude... Continue reading at Advertising Age
[ Advertising Age | 2013-10-21 00:00:00 UTC ]
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Time Warner said Tuesday that it won't complete its plan to separate Time Inc. division into an independent company this year as anticipated, prolonging a period of uncertainty at the publishing division just a little bit longer.Executives now intend to complete the spinoff early next year, Time... Continue reading at Crains New York
[ Crains New York | 2013-08-08 00:00:00 UTC ]
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In its second major digital hire of late, Hearst Magazines has hired Todd Haskell from The New York Times as svp and chief digital revenue officer. Haskell will be responsible for driving sales and revenue for Hearst Magazines Digital Media’s 24 sites, including Cosmopolitan.com, Esquire.com... Continue reading at AdWeek
[ AdWeek | 2013-07-29 00:00:00 UTC ]
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Building on the success of its Pulitzer Prize winning interactive article "Snow Fall," the New York Times will launch what it's calling "an immersive digital magazine experience."Sam Sifton, the former Times food critic-turned national editor, will lead the project. At the same time, he will... Continue reading at Crains New York
[ Crains New York | 2013-07-13 00:00:00 UTC ]
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Hearst Magazines plans to publish two test issues of a new lifestyle magazine with celebrity physician Dr. Mehmet Oz in the first quarter of 2014, the company said today.The company plans to distribute about 350,000 copies of the first issue to newsstands and another 450,000 to certain... Continue reading at Crains New York
[ Crains New York | 2013-06-25 00:00:00 UTC ]
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