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Posts Tagged ‘Stephanie Clifford’

Time Inc. PR Team Has Busy Day With Layoff News

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Rumors of layoffs at Time Inc. have been swirling for weeks, and last night and today some information was revealed. The company officially filed with the New York State Department of Labor, “to give notice that it has planned 280 layoffs in the state between Nov. 2 and Jan. 31,” reports the TimesStephanie Clifford.

The PR team at Time Inc. needless to say has their hands full, and they have already been called out by Clifford for not providing accurate information. A Time Inc. spokesperon told PRNewser that the company, “is not planning on issuing any type of written document,” but of course has been fielding a variety of press requests.

FishbowlNY first reported today that the company will shutter Fortune Small Business and also reports, “a majority of the layoffs are expected to come from the news division, which includes Time, Fortune and Sports Illustrated.” The layoffs come on the heels of parent company Time Warner’s Q3 earnings, which were better than expected, as the cable division (CNN, TBS) somewhat made up for the slump in ad revenue at Time Inc. Nonetheless, Time Warner posted a 38% decline in quarterly profit, leading some to wonder if they will be looking to “scrap” Time Inc. altogether.

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Done Deal: Bloomberg Acquires BusinessWeek

Bloomberg L.P. has announced it is acquiring BusinessWeek. The business magazine has been on the block for months and in recent weeks Bloomberg L.P. has been rumored to be the front runner in the bidding process.

Terms of the deal were not disclosed, but sources told BusinessWeek‘s Tom Lowry that the deal was in the, “$2 million to $5 million range and that it has agreed to assume liabilities, including potential severance payments.” Lowry says the publication will continue to publish weekly in print and “around the clock” online, and the BusinessWeek brand will be “used aggressively to bolster Bloomberg TV, radio and mobile operations.”

TVNewser reports BloombergTV, “which has undergone belt tightening since the arrival of former NBC News president Andy Lack last year, will incorporate the BusinessWeek brand and its journalists on air.”

The question is: how many of BusinessWeek‘s staff will remain after the company is officially folded into Bloomberg? In a memo to potential buyers, parent company McGraw-Hill made suggestions, “including a 20 percent layoff of employees, mostly in editorial and back-office functions,” reports the TimesStephanie Clifford.

FishbowlNY has the full release.

American Association of Advertising Agencies Rebrands, Looks to PR?

The American Association of Advertising Agencies is doing a little PR and branding work on itself. The association’s president and chief executive Nancy Hill, “announced the group would now go by the name 4A’s, since the “American” was too limited (advertisers do business internationally), as was “Advertising Agencies” (firms now offer public relations services as well),” reported The New York TimesStephanie Clifford today. Naturally, we wanted to get the take of The Council of PR Firms, a national association of more than 100 firms which is in some ways the PR equivalent of the 4A’s.

“Obviously today’s Times story caught our eye,” said Matt Shaw, Senior Vice President, Director of Communications for The Council. “The 4As deserves credit for acknowledging the massive changes taking place in its business; however, as it relates to doing strategic public relations, simply re-branding doesn’t mean an ad agency can do PR like Council members, and public relations firms in general.”

Shaw went on to state, “I wrote a piece in the Daily Dog two years ago on this subject, and my lead was, ‘It turns out that when advertising grows up it wants to be public relations.’ Perhaps this is another step toward fulfilling that prophecy.”

PRWeek’s Last Weekly Issue

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After this week PRWeek will join Adweek as a marketing industry publication with the word “week” in its name that is not printed weekly. Adweek – owned by Nielsen Online Business Media – currently prints 36 issues per year, while PRWeek – owned by Haymarket Media – will scale back to a monthly print edition.

Writes The New York TimesStephanie Clifford, “[PRWeek] is now in the embarrassing position of all businesses that choose a too-specific moniker – think of the chef who christens his restaurant “8 Jones” after its street address, only to perplex customers when 8 Jones later moves to 14 Chestnut Street. So may the PRWeek subscribers feel confused when they receive a monthly magazine called PRWeek.

“We definitely had a debate about that, but the PRWeek brand is very strong and we’re very attached to it,” publishing director Julia Hood told Clifford.

[image courtesy The New York Times]

RELATED: PRWeek Goes Monthly; Weekly Edition Becomes Digital