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Posts Tagged ‘Time Inc.:’

Time Inc. Posts Ad Revenue Increase, But Big Net Loss

timeinc_logo_2.25.10In Time Inc.’s first quarterly report since becoming an independent company, the publisher posted a three percent gain in ad revenue. That jump was mostly due to a 12 percent increase in digital ad revenue. The company was also helped by — believe it or not — print. Time Inc.’s acquisition of American Express Publishing, which included Food & Wine, Travel & Leisure and Departures, led to a year-over-year bump in ad dollars.

Despite this good news, the company posted a net loss of $32 million, compared to a $75 million profit last year. Which is probably why Joe Ripp, Time Inc’s CEO, used dreaded words such as “leaner” and “nimble” in his statement. Those words translated: layoffs are on their way.

“Time Inc. is undergoing a significant transformation as we extend our powerful brands across platforms, work to develop adjacent business opportunities, and move toward a leaner and more nimble operating culture,” said Ripp. “We had a solid second quarter, we are making real progress, and we are executing.”

Morning Media Newsfeed: Murdoch Withdraws Time Warner Bid | New Leaker Emerges

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After Pushback, Murdoch Abandons Fox’s Pursuit of Time Warner (NYT / DealBook)
At 4:07 p.m. Tuesday, the chief executive of Time Warner Inc., Jeffrey L. Bewkes, received an unexpected email. “On behalf of our board and senior management team, I am writing to inform you that we are withdrawing our offer to acquire Time Warner, effective immediately. Sincerely, Rupert Murdoch.” A hand-delivered letter bearing the same message arrived soon after. TVNewser In short, Murdoch’s 21st Century Fox withdrew its bid for Time Warner, CNN’s parent company. FishbowlNY Early last month, word leaked that Murdoch’s bid of $80 billion was rejected, which raised speculation that he’d try everything in his power to make it happen. Instead, the opposite has occurred. Politico / Dylan Byers on Media Subsequent reports speculated that Murdoch, dogged in his pursuit of an acquisition, would consider upping the offer by as much as $13.5 billion. Had such a deal gone through, it would have merged the country’s top-two cable providers, giving Murdoch control of several top-rated cable networks, including TNT, Fox News, TBS and Cartoon Network. WSJ Fox cited both Time Warner’s unwillingness to “engage with us” and a sharp drop in Fox’s stock price which made a deal “unattractive to Fox shareholders.” Fox’s stock had fallen about 11 percent since news broke last month that it had made a takeover offer for Time Warner, valued at $85 a share.

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Marie Claire Names Fashion Director, Time Inc. Names SVP of Sales

A couple Revolving Door items to note this morning, involving Marie Claire and Time Inc. Details are below.

    • Libby Conover has been named Marie Claire’s international fashion director, a publishing-side role. Conover comes to the magazine from GQ, where she served as style and entertainment director since 2012. She starts August 18.
    • Time Inc. has named Mark Ellis senior VP of corporate sales. He comes to Time Inc. from Yahoo, where he spent the past three years as VP of North American sales. This marks a return to Time Inc. for Ellis, as he previously served as publisher of Time Inc. New Media and publishing director of Sports Illustrated.

Norman Pearlstine Opens Up

Norman Pearlstine, Time Inc.’s chief content officer, is not afraid to speak his mind. When Time began selling ads on its cover, Pearlstine brushed aside the notion that the practice was a bad thing, even though it broke ASME’s number one guideline.

In a wide-ranging interview with WWD, Pearlstine shares some more thoughts about the industry. Below are a few highlights, but be sure to read the entire piece.

On the future of Time, EW, SI and People:

You can’t just reprise the news. You have to have journalism that makes a point and you have to be in sync with your audience. When I think about Sports Illustrated, when I think about People, Entertainment Weekly, Time — all four of them have editors who are very much in touch with their readers and that’s a comfort to me.

On replacing Andy Serwer, Fortune’s longtime editor, with Alan Murray:

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Norm Pearlstine Chats with the Observer

The transcribed Q&A is relatively brief. But when the interviewee is Time Inc. executive vice president and chief content officer Norm Pearlstine, much of it can be mulled.

NormPearlstinePic

In answering Kara Bloomgarden-Smoke‘s second question, Pearlstine paints a wonderfully accurate and vivid picture. It’s something we too have noticed – in this case, truly, as non-media critics – at the neighborhood supermarket checkout line:

“If you stand at a checkout counter, you’ll see people on their tablets, on their cellphones. Traditional media has to respond to that…”

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Morning Media Newsfeed: O’Donnell’s Return Official | Emmy Noms Favor CNN, Social TV

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rosie o'donnell the view

Rosie O’Donnell Officially Returning to The View (TVNewser)
Rosie O’Donnell is returning to The View as a co-host in the fall, ABC confirmed via Twitter Thursday. Variety O’Donnell will join moderator Whoopi Goldberg. ABC execs are in the midst of a extensive search for new producers to take the reins of The View as the show prepares to replace panelists Sherri Shepherd and Jenny McCarthy, who recently exited the daytime program. THR / The Live Feed O’Donnell, who was a panelist on The View for the 2007-2008 season, left after just one year. O’Donnell had a notably stormy tenure on the show, often fighting with conservative panelist Elisabeth Hasselbeck, who suggested on Fox News on Wednesday that O’Donnell had been plotting her return to the show for “a very, very long time.” HuffPost TMZ reported Tuesday that the former co-host would be returning, claiming that O’Donnell had been in “active talks” with the show. This will be ABC’s first move to put back the pieces after the major overhaul that left Whoopi Goldberg as the show’s only remaining co-host. In June, Shepherd and McCarthy announced that they would be leaving, and ABC implied in a statement that their departures were not voluntary. Barbara Walters, the show’s creator, retired in May and Joy Behar and Hasselbeck both exited the show in 2013. NYT O’Donnell’s name immediately arose as most likely to be the first-named replacement. Her outspoken and often politically oriented commentary helped spark a surge in the show’s ratings. A committed liberal with strong views on numerous topics, she also got into some widely publicized feuds, with Donald Trump and others.

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Time Inc. to Staffers: Please Don’t Stream USA vs. Belgium

FIFAWorldCupLogoIf this is Tuesday, it must be…

Capital New York’s Nicole Levy got her hands on a memo from Time Inc. CTO Colin Bodell. Apparently, the strain put on the company’s Intranet last Thursday by in-house streaming of the USA vs. Germany FIFA World Cup game has him asking, as a favor, that employees please not do that again:

While we understand that everyone wants to support the national team, please do not stream the game over the Internet to your local workstation. There are conference rooms and pantries located throughout the building that have televisions where the game can be viewed. Thank you for your understanding and cooperation.

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Time Inc. Senior Digital VP: ‘We are Not a Magazine Company’

M. Scott Havens, who recently joined Time Inc. as its new senior VP of digital, has big plans for the company. In an interview with The Guardian, Havens made it clear that in order for the company to flourish, it was going to have to think outside the box. Way outside.

“We are not a magazine company,” he explained. “We are a media company with a portfolio.” Time Inc. staffers, please note this change when talking to relatives about your career.

Havens had a good reason for tossing aside the “magazine” label. He wants Time Inc. employees to think in terms of innovation, and — despite how much we love magazines — the word just doesn’t inspire.

“We want to build the next LinkedIn, the next Gilt, the next Facebook,” Havens added. “We have got really smart people and we need to let them use their brains.”

Morning Media Newsfeed: Aereo Suspends Service | The View Loses Two

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Aereo Suspends Streaming TV Service, Weighs Next Steps (Variety)
Following the Supreme Court’s ruling on Wednesday in favor of broadcasters, Aereo announced early Saturday that it was pausing its streaming TV service at 11:30 a.m. ET. “We have decided to pause our operations temporarily as we consult with the court and map out our next steps,” Aereo CEO and founder Chet Kanojia wrote in a letter to subscribers. Deadline Hollywood The Barry Diller-backed company plans to consult with the U.S. District Court in New York, hearing broadcasters’ complaint against it after the U.S. Supreme Court ruled in a 6-3 decision that the service violates station owners’ copyrights when it streams their over-the-air programming without permission. Users will receive a refund for their last paid month. Mediaite Notably, Kanojia calls the move a “pause” rather than a permanent end to operations, though it seems highly unlikely that the company will be able to move forward in any recognizable form following the decision. In an interview with Bloomberg TV earlier this year, he said the company had “no plan” to move forward if the court ruled against it. GigaOM Despite the obvious appeal of an Internet-based mobile TV service that offers a small bundle of channels, the TV industry is reluctant to change its current business model, which is based on selling large packages of channels, many of which consumers never watch. One option for Aereo may be to accept the Supreme Court’s declaration that it is a cable company, and seek a license from the broadcasters, although the economics of this might prove prohibitive. NYT The company had fewer than 500,000 subscribers in about a dozen metropolitan areas. Customers paid $8 to $12 a month to rent one of Aereo’s dime-size antennas that captured over-the-air television signals. They then could stream and record programs from major broadcasters using their mobile phones, tablets, laptops and Internet-connected televisions.

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Time Inc. Sells Mexican Publisher

Time__Inc_-logo-2ED06AA15C-seeklogo.com_Time Inc. has sold Grupo Expansión (GEx) — Mexico’s second-largest publisher — to Southern Cross Group, a private equity firm. Time Inc. had acquired GEx in 2005.

Joe Ripp, Time Inc’s CEO, said the company sold GEx because it didn’t fit in its plans. “Time Inc.’s prime focus today is on growing core assets in the U.S. and U.K.,” said Ripp, in a statement. “Therefore, we believe GEx will have better opportunity to maximize its value under the ownership of Southern Cross.”

GEx’s brans include Expansión, Elle, Obras, Manufactura, IDC, Quién, Elle Decoration, InStyle, Accént, Aire, Gran Plan, Quo, Chilango, Life & Style, Metros Cúbicos, Travel + Leisure, Revolution, CNNExpansión, Mediotiempo, ADNPolítico and CNNMéxico.

Financial terms of the deal weren’t disclosed.

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