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Posts Tagged ‘Washingtonian’

Morning Media Newsfeed: Time Inc. Struggles | Netflix Shareholders Back Hastings

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Time Inc. Stock Falls in Its Debut (NYT)
Shares of Time Inc., the magazine company that began trading Monday after being spun off from Time Warner, got off to a rough start, falling nearly 7 percent before recovering somewhat. Bloomberg The shares, trading under the ticker symbol TIME, slid less than 1 percent to $23.30 at the close in New York, after earlier dropping by as much as 6.7 percent. Shares of Time Warner, which owns the Warner Bros. movie studio and cable networks such as HBO and CNN, rose 1.2 percent to $68.99. FishbowlNY Last week, Time Inc.’s execs met with editors and asked them to begin the process of cutting 25 percent of editorial spending. That means staffing cuts are coming by the bunches. HuffPost Time Inc. laid off hundreds of employees in 2013 and earlier this year. Some titles, such as People, appear to have already started with their layoffs. Time Inc. is also set to leave its longstanding home, the Time-Life Building, for a cheaper downtown pad. THR Dealmaking could be on the agenda, but unlikely in the form of big acquisitions. Time Inc. was spun off with $1.3 billion in debt. Analysts have compared that to the lack of debt that Rupert Murdoch’s News Corp got when the mogul’s empire was split into two last year. Moody’s recently rated Time Inc.’s debt below investment grade, but other observers said the debt will also allow Time Inc. to show that it can be trusted financially.

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Former FBDC Editor Graff|McGraw-Hill Earned $5.9M From BusinessWeek|NYTCo. May Sell Worcester Paper Soon|More On Comcast-NBCU

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PRNewser: Former FishbowlDC founding editor Garrett Graff, now the editor of the Washingtonian, talks about working in PR and then making the jump to journalism.

All Things Digital: Today, Mcgraw-Hill told investors that its sale of BusinessWeek netted the company $5.9 million after taxes.

Worcester Telegram & Gazette: Ralph D. Crowley, Jr., who is looking to buy the Worcester Telegram & Gazette from The New York Times Co., says negotiations might be wrapped up in two weeks.

New York Times: A closer look at Comcast‘s bid for a majority stake in NBC Universal.

Four Vie For 2009 Thurber Prize|FBDC Founding Editor Graff Takes Over Washingtonian|NYT Columnist Buys New Home|Us Weekly Thrives|Economist Sells Single Copies In U.K.

GalleyCat: The organizers of the Thurber Prize for American Humor couldn’t narrow their short list down to the usual three candidates — so this year there are four authors competing for the $5,000 prize: Sloane Crosley, Ian Frazier, Don Lee and Laurie Notaro.

FishbowlDC: FBDC’s founding editor Garrett Graff has been named editor of Washingtonian.

Observer: New York Times columnist Paul Krugman has purchased a $1.7 million three-bed on Riverside Drive.

WWD: For the first time, Us Weekly‘s Web site has surpassed People.com in number of unique visitors. The magazine seems to be getting along fine since longtime editor Janice Min‘s departure: acting EiC Michael Steele‘s first issue sold 1.1 million copies on newsstands.

Guardian: You can now buy single copies of The Economist in the U.K.